Problem
The market volume for widgets is increasing by 15% per year from current profits of $200,000. Investing in a design change will allow the profit per widget to stay steady; otherwise profits will drop 3% per year. What is the present worth of the savings over the next 5 years? Ten years? The interest rate is 10%.
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.