An Air Force Research Laboratory has spent $62 million over a decade developing and testing the Active Denial System, a device which uses energy beams to allow soldiers to break up unruly mobs without...

An Air Force Research Laboratory has spent $62 million over a decade developing and testing the Active Denial System, a device which uses energy beams to allow soldiers to break up unruly mobs without firing a shot. Another $9 million will be spent over the next two years. Assume the $62 million was spent evenly in years 1 through 10 and that the $9 million will be expended evenly in years 11 and 12. What is the total future worth of the expenditures in year 12 at an interest rate of 8% per year? Solve using (a) tabulated factors, and (b) write the calculator function to find the future worth.