An Air Force Research Laboratory has spent $62 million over a decade developing and testing the Active Denial System, a device which uses energy beams to allow soldiers to break up unruly mobs without firing a shot. Another $9 million (in total) will be spent over the next two years. Assume the $62 million was spent evenly in years 1 through 10 and that the $9 million will be expended evenly in years 11 and 12. What is the total future worth of the expenditures in year 12 at an interest rate of 8% per year

Value economics capital scarcity opportunity cost wealth labor trade-offs standard of living good a. condition of not having enough resources to produce all the things people want b. alternative choices made by consumers in the marketplace c. sum of those economic products that are tangible, scarce, useful, and transferable d. tools, equipment, machinery, and factories used in the production of goods and services e. tangible item that is economically useful or that satisfies an economic want f. quality of life based on the ownership of the necessities and luxuries that make life easier g. people with all their efforts, abilities, and skills h. cost of the next-best alternative use of money, time, or resources when one choice is made rather than another i. study of how people try to satisfy their needs through the careful use of scarce resources j. worth that can be expressed in dollars and cents