A company that manufactures purgable hydrogen sulfide monitors will make deposits such that each one is 6%
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Question:
A company that manufactures purgable hydrogen sulfide monitors will make deposits such that each one is 6% larger than the preceding one. How large must the first deposit at the end of year 1 be if the deposits extend through year 10 and the 6th deposit is $4000? Use an interest rate of 11% per year.
The first deposit at the end of year 1 must be $ .
Related Book For
International Marketing And Export Management
ISBN: 9781292016924
8th Edition
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
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