Question: ( Q _ { 2 } ) A compry wonts to replace its bridge eavipment 7 years from now at an estimated cost
Q A compry wonts to replace its bridge eavipment years from now at an estimated cost of $ The comprny will accumulate this amoint through the income receive from the pessenges crossing the existing bridge. The farst deposit uill be recelved one month from today and would be deposited at monthly intervals. The account will eam a cominal amual intrest to be compounded mathly. The number of pessingers persing through the existing bridge for the next sever yeas is estimated as shown an the following toble; Prssengersmonth passergersmonth passengersmonth How much must be collected from each passenger to accumulare by seven yeers from now?
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