Apple Computer wants to have $2.1 billion available5 years from now in order to finance initialproduction of a device that, based on your behavior,will learn how to monitor and control nearly allof the electronic devices in your home, such asthermostat, coffee pot, TV, sprinkler system, etc.using Internet of Things (IOT) technology. Thecompany expects to set aside uniformly increasingamounts of money each year to meet its goal. If theamount set aside at the end of year 1 is $100 million,how much will the uniform increase, G, have to beeach year? Assume the investment funds grow at arate of 18% per year.
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here