Contemporary Engineering Economics 6th Edition by Chan Park

Exercise 3

A company invests $2000 at the beginning of a five-year project. At the end of every year for the first three years, the project generates $500. At the end of the fourth year, the project generates no money. At the end of the fifth year, the project is terminated. How much must the project generate at the end of the fifth year to realize a 13% return on the initial investment