A rotary engine powers a vertical takeoff and landing (VTOL) personal aircraft known as the Moller Skycar M400. It is a flying car known as a personal air vehicle (PAV), and it is expected to make its first untethered flight in 2020. The PAV has been under development for 26 years at a total cost of $85 million. Assuming the $85 million was spent in an equal amount each year, determine the future worth at the end of the 26-year period at an interest rate of 6% per year. The future worth is $ .??
A rotary engine powers a vertical takeoff and landing (VTOL) personal aircraft known as the Moller Skycar M400. It is a flying car known as a personal air vehicle (PAV), and it is expected to make its first untethered flight in 2020. The PAV has been under development for 26 years at a total cost of $85 million. Assuming the $85 million was spent in an equal amount each year, determine the future worth at the end of the 26-year period at an interest rate of 6% per year. The future worth is $ .??
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
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A rotary engine powers a vertical takeoff and landing (VTOL) personal aircraft known as the Moller Skycar M400. It is a flying car known as a personal air vehicle (PAV), and it is expected to make its first untethered flight in 2020. The PAV has been under development for 26 years at a total cost of $85 million. Assuming the $85 million was spent in an equal amount each year, determine the future worth at the end of the 26-year period at an interest rate of 6% per year.
The future worth is $ .??
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