A beautiful bridge is being built over the river that runs through a major city in your state. The cost of the bridge is estimated at $600 million. Annual costs for the bridge will be $200,000 and it is estimated to last a long time. 

If the city's accountants use 3% as the interest rate for the analysis, what is the annualized cost of the bridge project?

Answer rating: 100% (QA)

To calculate the annualized cost of the bridge project you can use the concept of Present Value PV o... View the full answer