At an interest rate of 15 what is the equivalent annual, Business Economics

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At an interest rate of 15 what is the equivalent annual

Contributed by Hamed Kashani, Saeid Sadri, and Baabak Ashuri, Georgia Institute of Technology.

A construction firm can achieve a $15,000 cost savings in Year 1 and increasing by $2000 each year for the next 5 years by upgrading some equipment. At an interest rate of 15%, what is the equivalent annual worth of the savings?

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Business Economics: At an interest rate of 15 what is the equivalent annual

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