Consider the investment cash flow of Exercise 3.13. Write the expression for present worth in terms of
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Consider the investment cash flow of Exercise 3.13.
Write the expression for present worth in terms of the cash flows given, using an interest rate of r. This will give you a quadratic equation relating PW and r.
Plot the resulting quadratic equation in r.
Set PW = 0, and determine r.
Note that the minimum of the curve lies at r = 0.15, and the curve takes negative values between r =
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Related Book For 
Infrastructure Investment An Engineering Perspective
ISBN: 9781466576698
1st Edition
Authors: David G. Carmichael
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