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Exam 1 Business Answers

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hifer:
Mine..
1. A
2. C
3. C
4. D
5. E
6. D
7. E
8. D
9. A

maxleng:
same  :D  :D

Odette:
All the same except for Qn 7... I got B hmm could be wrong lol

maxleng:
for 7. i used [original price = new x (100/100-r) ]

and treated the inflation as a 'percentage increase' and worked backwards which gave me the answer of $39977.16

Odette:
Oh i see what i did was....
Step 1-
42000 x 0.98 = 41160
Step 2-
41160 x 0.97 = 39925.2 (approx 39925)

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