ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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The Pedernales Electric Cooperative estimates that the present worth now of income from an investment in renewable energy sources is $21,000,000. There will be no income in years 1 and 2, but in year 3 income will be $425,000, and thereafter it will increase according to an arithmetic gradient through year 15. What is the required gradient if the interest rate is 15% per year? Solve using factors.
What is the required gradient?
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