Detrich Products is planning to upgrade an aging manufacturing operation 5 years from now at a cost of $100,000. If the company plans to deposit money into an account each year for 4 years beginning 2 years from now (first deposit is in year 2) to pay for the expansion, the amount of the deposit at 10% per year interest is closest to: (a) $30,211 (b) $21,547 (c) $16,380 (d) $14,392

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Detrich Products is planning to upgrade an
aging manufacturing operation 5 years from
now at a cost of $100,000. If the company plans
to deposit money into an account each year for
4 years beginning 2 years from now (first deposit
is in year 2) to pay for the expansion, the
amount of the deposit at 10% per year interest is
closest to:
(a) $30,211
(b) $21,547
(c) $16,380
(d) $14,392

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