Determining the equivalent value of expenditure


The U.S Border Patrol is considering the purchase of a new helicopter for aerial surveillance of the New Mexico-Texas border with Mexico. A similar helicopter was purchased 4 years ago at a cost of 140,000$. At an interest rate of 7% per year. What would be the equivalent value today of that 140,000$ expenditure?

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Macroeconomics: Determining the equivalent value of expenditure
Reference No:- TGS062550

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