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Department of Electrical Engineering, have purchased MatLab software for Rs. 1,000,000 now an annual payments of Rs. 100,000 per year for 6 years starting 3

Department of Electrical Engineering, have purchased MatLab software for Rs. 1,000,000 now an annual payments of Rs. 100,000 per year for 6 years starting 3 years from now for annual upgrades. What is the present worth of the payments if the interest rate is 7% per year?

BOOK: Contemporary Engineering Economics

EDITION: 4

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