Cash reserves-expenses are growing at rate

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The City of Sustainberg started 2016 with $500,000 in cash reserves. In 2016, they expect to spend $1.75 million, and they’ve forecasted $1.8 million in revenues. Their revenues are growing at a rate of 2% per year. Their expenses are growing at a rate of 3% per year. Use this information to answer the next six questions.

Round your answers to the nearest whole dollar.

If Sustainberg continues on its current path, in what year will they run out of money?

Reference no: EM131070553

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