The cost to manufacture a firing system component used in a rapid deployment missile defense system...

 

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The cost to manufacture a firing system component used in a rapid deployment missile defense system was $30,000 the first year; however, the company expects the cost to increase by 2% each year. Calculate the present worth of this cost over a 5-year period at an interest rate of 10% per year compounded monthly. The present worth of the cost is $ The cost to manufacture a firing system component used in a rapid deployment missile defense system was $30,000 the first year; however, the company expects the cost to increase by 2% each year. Calculate the present worth of this cost over a 5-year period at an interest rate of 10% per year compounded monthly. The present worth of the cost is $