A company that utilizes carbon fiber 3-D printing wants to have money available 2 years from now
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A company that utilizes carbon fiber 3-D printing wants to have money available 2 years from now to add new equipment. The company currently has $650,000 in a capital account and it plans to deposit $200,000 now and another $200,000 one year from now. The total amount available in 2 years, provided it returns a compounded rate of 15% per year, is closest to:
(a) $1,354,100
(b) $1,324,100
(c) $1,125,125
(d ) $1,050,000
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