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Question 3-C: Four hundred pounds of copper go into a 2,000-square-foot, n...

Four hundred pounds of copper go into a 2,000-square-foot, newly constructed house. Today’s price of copper is $3.50 per pound. If the cost of copper is expected to increase 4.5% per year into the foreseeable future, what is the cost of copper going to be in a new 2,400-square-foot house 10 years from now? Assume the cost capacity factor for increases of copper in houses equals 1.0. (3.4)

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