Engineering Economy 7th Edition by Leland Blank ,Anthony Tarquin

Exercise 35

Loadstar Sensors is a company that makes load/force sensors based on capacitive sensing technology.The company wants to have $28 million for a plant expansion 4 years from now. If the company has already set aside $12 million in an investment account for the expansion, how much more must the company add to the account next year (i.e.,1 year from now) so that it will have the $28 million 4 years from now The account earns interest at 12% per year, compounded quarterly.