Hand Written Answer

Kaveh is a developer working on a new multi-family project. He thinks that if he assigns a larger crew on the project than he usually does he can finish the project in 24 months instead of the expected 31 months. If they finish in 24 months, it will save them $21700 per month over the saved time but the larger crew will cost an extra $6900 per month over the 24 months of construction. If the cost of construction financing is 12% compounded monthly, what is the present worth of the project acceleration