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NEAT, CLEAR AND STEP BY STEP SOLUTIONS Equipment maintenance costs for manufacturing explosion-proof pressure switches are projected to be $125,000 in year one and increase

NEAT, CLEAR AND STEP BY STEP SOLUTIONS

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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 1% each year through year five. What is the equivalent annual worth of the maintenance costs at an interest rate of 10% per year, compounded daily? The equivalent annual worth is $ 262798.7

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