a library expansion, began in 2002, was expected to cost $109 million. By 2006, library officials estimate the cost would be $35 million over budget. By what percent did the actual cost exceed the initial estimate?
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Expert's answer
2012-11-27T06:58:14-0500
Solution: over = (109+35)/109 - 1 = 1.3211-1 = 0.3211 (32.11%) Answer: Actual cost exceed the initial estimate by 32.11%
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