Loadstar Sensors is a company that makes load/force sensors bases on capacitive sensing technology. The company wants accumulate $30 million for plant expansion 5 years from now. If the company already has $15 million in an investment account for the expansion, how much more must the company add to the account now so that it will have the $30 million 5 years from now? The account earns interest at 10% per year.

Question

anonymous · Answer

I just need help setting up the problem. Would it be:

= 15,000,000 (F/P,10%,5)
= 15,000,000(.6209)
= 9,313,500

anonymous · Answer

@sauravshakya