Question: X Your answer is incorrect. To be able to begin a highway project, state regulations require that the money must be set aside at the


X Your answer is incorrect. To be able to begin a highway project, state regulations require that the money must be set aside at the beginning ofthe project to cover the entire project cost. The project is a 4-year project, the cost of the project will be $21 million in year 1, and costs are expected to increase by 6% each year due to anticipated design modications. How much should the state put aside to build this highway, assuming money is invested in an account that earns 2% per year? Click here to access the TVM Factor Table calculator. Carry all interim calculations to 5 decimal places and then round your nal answer to 3 decimal places. Please enter your answers in millions of dollars. The tolerance is :0.005 million. eTextbooI-c and Media Hint Assistance Used Save for Later Attempts: 2 of 3 used
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