At year 0, your sustainable civil engineering professional group makes a deposit to a savings account of $6000. Originally, you planned to also make $4000 deposit every two years (end of the year) until the end 6th year and withdraw all money at the end of year 7 to afford organizing a large conference for your professional organization. The interest rate on the savings account is 6% compounded annually. However, because your group wanted to sponsor sustainable engineering students to attend regional events and you can only deposit $1,500 every two years (end of the year).

At year 0, your sustainable civil engineering professional group makes a deposit to a savings account of $6000. Originally, you planned to also make $4000 deposit every two years (end of the year) until the end 6th year and withdraw all money at the end of year 7 to afford organizing a large conference for your professional organization. The interest rate on the savings account is 6% compounded annually. However, because your group wanted to sponsor sustainable engineering students to attend regional events and you can only deposit $1,500 every two years (end of the year).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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