Question: An engineer has invented a new high-speed wireless charging system. The engineer is considering selling the patent to a cellular phone manufacturer. The manufacturer offers
An engineer has invented a new high-speed wireless charging system. The engineer is considering selling the patent to a cellular phone manufacturer. The manufacturer offers 15 annual payments, starting with $50,000 at the end of the first year, $55,000 at the end of the second, and so forth, increasing by $5,000 each year (.e. the last (15-th) payment will be $50,000 + (14x$5,000). Assume the engineer uses a MARR of 8%, calculate the Future Worth of this offer (at the end of the 15-th year) O $2,117,109. $2,388,629. $2,427,206. $2,744,926. $2.931,669
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
