Starting in 2024, the regional government offices, health departments, and public libraries in the city...

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Accounting

Starting in 2024, the regional government offices, health departments, and public libraries in the city of Boulder, Colorado, will adopt a 9-hour/day,4-day workweek from the beginning of June through the end of October. The shortened workweek will affect 30% of the citys 8000 employees and will save $55,000 per month for those 5 months, due to decreased electricity, water, and maintenance costs. If this work schedule persists for the next 15 years, what is the future value of the savings at the end of that period (i.e., end of year 2039)? Assume an interest rate of 0.6% per month.

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