Additional direction: Assume that the cost of the project is incurred in the year of completion; interest is charged at the rate of 10% per annum.
What is the approximate cost incurred for projects completed by 2000?
Explanation:
Students! read the question carefully. It says what is the cost of projects completed by 2000. It will be addition of previous two answers + Cost incurred for the projects completed in 2000. Approximate cost of projects completed by 2000 is 1282.6 + 522.5 + (250 × (1.1)3) ≈ 2140.
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