AWS Welding Practice Test & Exam Prep

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An estimate contains $5,000,000 of current-year cost that will be spent two years from now. If escalation is 3% per year compounded annually, what escalated amount should be budgeted?

$5,150,000 $5,300,000 $5,304,500 $5,450,000

Correct Answer:

$5,304,500

Explanation:

Escalated cost = $5,000,000 x 1.03^2 = $5,304,500.

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