A city engineer has estimated the annual toll revenues from a proposed highway construction project over 20 years as follows: An = ($2,000,000)(n)(l.06)n-1 n = 1.2 .... ,20.To determine the amount of debt financing through bonds, the engineer was asked to present the estimated total present value of toll revenue at an interest rate of 6%. Assuming annual compounding, find the present value of the estimated toll revenue.
A city engineer has estimated the annual toll revenues from a proposed highway construction project over 20 years as follows: An = ($2,000,000)(n)(l.06)n-1 n = 1.2 .... ,20.To determine the amount of debt financing through bonds, the engineer was asked to present the estimated total present value of toll revenue at an interest rate of 6%. Assuming annual compounding, find the present value of the estimated toll revenue.
Chapter2: Loads On Structures
Section: Chapter Questions
Problem 1P
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A city engineer has estimated the annual toll revenues from a proposed highway construction project over 20 years as follows:
An = ($2,000,000)(n)(l.06)n-1
n = 1.2 .... ,20.
To determine the amount of debt financing through bonds, the engineer was asked to present the estimated total present value of toll revenue at an interest rate of 6%. Assuming annual compounding, find the present value of the estimated toll revenue.
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