Apple Computer wants to have $2.1 billion available 5 years from now in order to finance initial

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Apple Computer wants to have $2.1 billion available 5 years from now in order to finance initial production of a device that applies IOT technology for home use. The company expects to set aside uniformly increasing amounts of money each year to meet its goal, starting with $100 million at the end of year 1. How much will the constant increase, G, have to be each year at a rate of return of 18% per year? Try your skill by using the Goal Seek tool to find the required gradient. Start the evaluation with G = $50 million per year.

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Engineering Economy

ISBN: 978-0073523439

8th edition

Authors: Leland T. Blank, Anthony Tarquin

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