A piece of land was purchased for $170 000 five years ago. Its price has increased in
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Question:
A piece of land was purchased for $170 000 five years ago. Its price has increased in line with inflation and its current value is $200 000.
- Find the average annual inflation rate during this time?
2. Find the time required for the land to double in value from its current value of $200 000.
Assume that the average rate of inflation will be at 2.5% per annum?
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
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