Question
The City of Meyers is considering a treatment plant with an initial investment of $15 million and a life of 35 years. The city uses
The City of Meyers is considering a treatment plant with an initial investment of $15 million and a life of 35 years. The city uses a rate of 3% per year compounded yearly. If the plant would be needed indefinitely, what is the total investment that the city should budget for the project?
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Fundamentals Of Contemporary Financial Management
Authors: R. Charles Moyer, James R. McGuigan, Ramesh P. Rao
2nd Edition
0324406363, 978-0324406368
