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Governor Christie is considering a project that will cost the state 1 million dollars per year every year for the next 10 years. At an

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Governor Christie is considering a project that will cost the state 1 million dollars per year every year for the next 10 years. At an interest rate of 3%: what is the total ending cost of the project at the end of 10 years. Mayor Smith is considering a project that will costs 4 million dollars today: 3 million dollars 1 year from now: 2 million dollars 2 years from now: and 1 million dollars 4 years from now. The project will have a benefit of 4 million dollars 5 years from today: 3 million dollars 6 years from now: 2 million dollars 7 years from now and I million dollars 8 years from now. Looking at nothing but dollars should the mayor pursue this project? Use an interest rate of 5%. Change the interest rate from the previous question to 10% what happens

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