Apple computer wants to have 21 billion available 5 years


Question: Apple Computer wants to have $2.1 billion available 5 years from now in order to finance initial production of a device that applies IOT technology for home use. The company expects to set aside uniformly increasing amounts of money each year to meet its goal, starting with $100 million at the end of year 1. How much will the constant increase, G, have to be each year at a rate of return of 18% per year?

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Microeconomics: Apple computer wants to have 21 billion available 5 years
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