Valtro Electronic Systems, Inc. set aside a lump sum of money 4 years ago in order to finance a plant expansion now. If the money was invested in a 10% per year simple interest certificate of de- posit, how much did the company set aside if the certificate is now worth $850,000?

Valtro Electronic Systems, Inc. set aside a lump sum of money 4 years ago in order to finance a plant expansion now. If the money was invested in a 10% per year simple interest certificate of de- posit, how much did the company set aside if the certificate is now worth $850,000?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

PLEAS ANSWER Q3 and Q4

Q3:
Valtro Electronic Systems, Inc. set aside a lump
sum of money 4 years ago in order to finance a
plant expansion now. If the money was invested in
a 10% per year simple interest certificate of de-
posit, how much did the company set aside if the
certificate is now worth $850,000?
Q4:
KAN
THEY
T
How many years would it take for money to triple
in value at 20% per year simple interest'?

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