junk yard operator

Project Description:

a retired junk yard operator, edsel studebaker, recently died and left his entire fortune of $12,300,000 to a trust to establish a junk car museum. the trustees must decide how to spend it. land can be purchased for $180,000 now. the museum building will require 30,000 square feet of administrative and work space. each car displayed will require an additional 1000 square feet. planning will cost $100,000 immediately. building construction will cost $100 per square foot and will take the next two years (assume equal costs each year.) cars will cost $500 each (they’re junk, remember?) and they will be purchased during the second year of construction. annual operation of the museum will cost $200,000 plus $30 per car. if the funds are invested at 9% per year and the museum is to exist forever, how many cars should the trustees plan to purchase?
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Price Type: Negotiable

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