The tourism revenue generated by the ride is closest to what

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A ride is built and Revenue is projected to be $1 million initially (i.e., at time 0), $1.05 million after the first month, $1.1025 million after the second month, and amounts increasing by 5% each month through the first year. At an interest rate of 12% per year, compounded monthly, the present worth (time 0) of the tourism revenue generated by the ride is closest to what?

Reference no: EM13190455

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