The us department of transportation has decided to invest, Business Economics

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The us department of transportation has decided to invest

The US Department of Transportation has decided to invest in electric vehicles over the next 10 years. They will fund $0.5 million in year 1, $2 million in year 2, $3.5 million in year 3, $5 million in year 4 and $6.5 million each year thereafter. Given an interest rate of 6%, what is the present worth of the electric vehicle program?

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