A company wants to expand its manufacturing plant in 4 years. The engineer estimates the expenditure required now to be $8 million, but in 4 years, the cost will be higher by an amount equal to the inflation rate of 7%. If the company sets aside $7 million now into an account that earns interest at "x" % per year, what will "x" have to be in order for the to have exactly the right amount of money for the expansion? company

A company wants to expand its manufacturing plant in 4 years. The engineer estimates the expenditure required now to be $8 million, but in 4 years, the cost will be higher by an amount equal to the inflation rate of 7%. If the company sets aside $7 million now into an account that earns interest at "x" % per year, what will "x" have to be in order for the to have exactly the right amount of money for the expansion? company

Structural Analysis

6th Edition

ISBN:9781337630931

Author:KASSIMALI, Aslam.

Publisher:KASSIMALI, Aslam.

Chapter2: Loads On Structures

Section: Chapter Questions

Problem 1P

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