Apple Computer wants to have $2.1 billion available 5 years from now in order to finance initial production of a device that, based on your behavior, will learn how to monitor and control nearly all...


Apple Computer wants to have $2.1 billion available

5 years from now in order to finance initial

production of a device that, based on your behavior,

will learn how to monitor and control nearly all

of the electronic devices in your home, such as

thermostat, coffee pot, TV, sprinkler system, etc.

using Internet of Things (IOT) technology. The

company expects to set aside uniformly increasing

amounts of money each year to meet its goal. If the

amount set aside at the end of year 1 is $100 million,

how much will the uniform increase, G, have to be

each year? Assume the investment funds grow at a

rate of 18% per year.



Jun 08, 2022
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