4

4.) The cost of a fence that can detect poacher intrusion into a National Wildlife Preserve is $3.4 million per mile. If the effective life of the fence is 11 years, determine the equivalent annual cost of a/an 15-mile long fence at an interest rate of 6% per year.

The equivalent amount,  (in $)

Round to the nearest two (2) decimal places

8.)  The future worth in year 10 of an arithmetic gradient cash flow series for years 1 through 10 is $550,000. If the gradient increase each year, G, is $2750, determine the cash flow in year 1 at an interest rate of 8% per year.

The cash flow in year 1, (in $)

Round off to the nearest two (2) decimal places