Problem
A wholesale company has signed a contract with a supplier to purchase goods for $2,000,000 annually. The first purchase will be made now to be followed by 10 more. Determine the contract's present worth at a 7% interest rate. Contributed by Hamed Kashani, Saeid Sadri, and Baabak Ashuri, Georgia Institute of Technology.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.