Problem

A water resources engineer is trying to decide on the number of years over which to estima...

A water resources engineer is trying to decide on the number of years over which to estimate future benefits and costs for a project. The engineer decides not to count any future benefits or costs that have a present worth amount less than 3% of their future worth amount. If the compound interest rate is 8%, use the rule of 72 to determine the number of years over which to estimate future benefits and costs.

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