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A machine is expected to have a maintenance cost of 1000 the first year. It is believed that the maintenance cost will increase 500 per

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A machine is expected to have a maintenance cost of 1000 the first year. It is believed that the maintenance cost will increase 500 per year. The interest rate is 6% compounded annually. Over a 10-year period, what will be the approximate effective annual maintenance cost? 0 2450.00 3011.00 3452.00 O 1345.00

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