Engineering Economy – Problem 2.71
If you are able to save $5000 in year 1, $5150 in year 2, and amounts increasing by 3% each year through year 20, the amount you will have at the end of year 20 at 10% per year interest is closest to:
(a) $60,810
(b) $102,250
(c) $351,500
(d) Over $410,000
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
