Expects the per capita expenditure, Financial Management

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Expects the per capita expenditure:

A township expects its population of 5,000 to grow annually at the rate of 5%. The township currently spends $300 per inhabitant, but, as the result of inflation and wage increments, expects the per capita expenditure to grow annually by 7%. How much will the township's budget be after 10, 15, and 20 years?


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