The future worth of the project is $2,349,471.
What is future value?
The worth of a current asset at some point in the future based on an estimated rate of growth is known as future value (FV). For investors and financial planners, the future value is crucial because they use it to predict how much an investment made now will be worth in the future.
The future worth is the present value of all the cash flows from the project, discounted at the interest rate. In this case, the present value of the cash flows is:
$171,279 + $15,203(PVIF 8%,30) + $54,294(PVIF 8%,30)
= $171,279 + $15,203(0.465) + $54,294(0.27)
= $171,279 + $7,046 + $14,708
= $192,033
The future worth of the project is then the present value of these cash flows, discounted at the interest rate.
$192,033(PVIFA 8%,30)
= $192,033(12.247)
= $2,349,471
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