How many cups must be recycled annually to meet the goal

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Reference no: EM13189993

You work for a large company that recycles plastic drinking cups used by workers. The company wishes to generate $5 million by the end of the recycle program's 5 years life ($1,000,000 per year). Each recycled cup is sold for one-half cent.
a) How many cups must be recycled annually to meet this goal? The number of cups is the same year to year and the interest rate use 0%.
b) Same as (a) above except the annual interest rate is 15%.
c) Explain why the answers are different.

Reference no: EM13189993

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