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 21 years at a total cost of $105 million. Assuming the $105 million was spent in an equal amount each year, determine the future worth at the end of the 21-year period at an interest rate of 8% per year. The future worth, (in $) Round off to the nearest two (2) decimal places Add your answer

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 21 years at a total cost of $105 million. Assuming the $105 million was spent in an equal amount each year, determine the future worth at the end of the 21-year period at an interest rate of 8% per year. The future worth, (in $) Round off to the nearest two (2) decimal places Add your answer

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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