Uses ultra-wideband technology to develop devices

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Vision Technologies, Inc., is a small company that uses ultra-wideband technology to develop devices that can detect objects (including people) inside of buildings, behind walls, or below ground. The company expects to spend $2 million as an initial investment, $100,000 per year for labor and $125,000 per year for supplies, and $450,000 at year 3 before a product can be marketed. At an interest rate of 11% per year, what is the total equivalent future amount of the company’s expenses at the end of 3 years?

Reference no: EM131424788

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