Problem
1. The price of cotton sky-rocketed during the Civil War because of Union naval blockades of Confederate ports. This was a primary reason the South experienced 4,000% inflation from 1861 to 1865 (four years). Specifically, what cost 1 cent in 1861 cost $40 in 1865. What was the equivalent annual inflation rate that the South was forced to endure?
2. A redesign of the assembly line would only require 1,300 horsepower output. Determine the best combination of motors given this reduced horsepower requirement.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.