no explanation needed just final answer 24. A painting was...
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24. A painting was purchased for $1 million in 2010. What would its nominal price be in 2020 if the CPI was 116.5 in 2010 and 137 in 2020 ? a) $1,175,965.67 b) $1,088,365,44 c) $850,364,96 d) $470,515,532.88 25. A hydraulic lift is purchased for a warehouse for $60,000. This lift is expected to generate $7000 in annual income for its useful life of 12 years. No Salvage value is expected. O\&M costs are estimated to be $1000 annually. The rate of retum for this investment is close to what number? a) 5.3% b) 2.9% c) $6,000 d) $60,082 26. Heather invests $12000 in year 0 and withdraws $23000 in year 6 . What interest rate did she earn? a) 4.7% b) 9.7% c) 11.5% d) 6% 27. A project requires a $40,000 initial investment and will earn annual revenue of $9000 for 6 years. The interest rate is 7.3%. What is the present worth of the project? a) $42,504.42 b) $2,504,42 c) $13,735.39 t) $54,000.00
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