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Equipment maintenance costs for manufacturing explosion-proof pressure switches are projected to be $ 125,000 in year one and increase by 2.5% each year through year

Equipment maintenance costs for manufacturing explosion-proof pressure switches are projected to be $125,000 in year one and increase by 2.5% each year through year five. What is the equivalent annual worth of the maintenance costs at an interest rate of 10% per year, compounded MONTHLY?

Please do not use excel and show formulas.

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