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Engineering Economy – Problem 2.69

ByEngineeringCheatSheet.com

In planning for your retirement, you expect to save $5000 in year 1, $6000 in year 2 and amounts increasing by $1000 each year through year 20. If your investments earn 10% per year, the amount you will have at the end of year 20 is closest to:

(a) $242,568
(b) $355,407
(c) $597,975
(d) $659,125

Sample problems and notes are based on the following textbook: Engineering Economy 7th Edition

ISBN-13: 978-0073376301

ISBN-10: 0073376302

Edition: 7

Author: Leland Blank, Anthony Tarquin 

Published Date: 2011

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