A 5-year plan to raise extra funds for public
Chapter 3, Problem 3.33(choose chapter or problem)
A 5-year plan to raise extra funds for public schoolsinvolves an enrichment tax that will raise $56 for every student the first year, increasing by $1 perstudent per year thereafter. There are 50,000 studentsin the district in year one, 51,000 in year 2,with increases of 1000 students per year thereafter.Calculate the future worth in year 5 of the enrichmentplan over a 5-year planning period at an interestrate of 8% per year. Solve this problem using(a) tabulated factors, and (b) a spreadsheet.
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