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The State of Chiapas, Mexico, decided to fund a program for improving reading skills in elementary...

The State of Chiapas, Mexico, decided to fund a program for improving reading skills in elementary school students. The first cost is $325,000 now and an update amount of $180,000 every 6 years forever. Determine the perpetual equivalent annual cost at an interest rate of 14% per year.

The perpetual equivalent annual cost is determined to be –$ ???

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Answer #1

First calculating the present worth of the investment

Now converting it to annual cost

Equivalent Annual cost = $ 66,588.35

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