Question: 1 . The information technology ( IT ) department has recently completed a major refurbishment and upgrade of the city s data center , at

1.Theinformationtechnology(IT)departmenthasrecentlycompletedamajorrefurbishmentandupgradeofthecitysdatacenter,atacostof$10,145,825.Thechiefinformationofficer(CIO)hasinformedthecentralbudgetofficethattheITdepartmentwillneedtodothesamekindofupgradein5years,andheexpectsthetotalcostofthatprojecttobe10%morethanthisyearsproject,accountingforbetterfuturetechnologyandfutureincreasesincosts.Thecitydoesnotexpecttohaveenoughfundingavailabletopayfortherefurbishmentin5yearsandmustputmoneyawayduringeachofthenext4yearstomeetthisneed.Howmuchmoneyshouldthecityputasideineachofthenext4yearstobeabletopayforthedatacenterrefurbishment5yearsfromnow,assumingthecitycaninvestthemoneyata4.5%interestrate

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