A privately run, for-profit, prison is considering ways in which it can cut its monthly costs and therefore increase profit. One idea it is considering is to pay a judge to guarantee convicted prisoners in poor health win their appeals and are set free. The prison believes it can realize the monthly cost savings below over the initial year of the plan. What is the present value of the first year's monthly cost savings? My answer is suppose to come up with 49701. This is the third time I have sent this problem threw I need to be credited for the other two times. I am waisting my questions by having to resubmit the questions 2 to 3 times. Please help thanks!! Month Savings ($) 1 3,500 2 6,000 3 6,500 4 9,000 5 9,000 6 9,000 7 9,400 8 9,800 9 4,800 10 5,000 11 2,000 12 3,500 Total 77,500
A privately run, for-profit, prison is considering ways in which it can cut its monthly costs and therefore increase profit. One idea it is considering is to pay a judge to guarantee convicted prisoners in poor health win their appeals and are set free. The prison believes it can realize the monthly cost savings below over the initial year of the plan. What is the present value of the first year's monthly cost savings? My answer is suppose to come up with 49701. This is the third time I have sent this problem threw I need to be credited for the other two times. I am waisting my questions by having to resubmit the questions 2 to 3 times. Please help thanks!! Month Savings ($) 1 3,500 2 6,000 3 6,500 4 9,000 5 9,000 6 9,000 7 9,400 8 9,800 9 4,800 10 5,000 11 2,000 12 3,500 Total 77,500
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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A privately run, for-profit, prison is considering ways in which it can cut its monthly costs and therefore increase profit. One idea it is considering is to pay a judge to guarantee convicted prisoners in poor health win their appeals and are set free. The prison believes it can realize the monthly cost savings below over the initial year of the plan. What is the
| Month | Savings ($) |
| 1 | 3,500 |
| 2 | 6,000 |
| 3 | 6,500 |
| 4 | 9,000 |
| 5 | 9,000 |
| 6 | 9,000 |
| 7 | 9,400 |
| 8 | 9,800 |
| 9 | 4,800 |
| 10 | 5,000 |
| 11 | 2,000 |
| 12 | 3,500 |
| Total | 77,500 |
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