A high-tech company wants to have $2.5 billion available in 5 years to develop a new product.
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A high-tech company wants to have $2.5 billion available in 5 years to develop a new product. The company expects to invest uniformly increasing amounts of money each year to meet this goal. At the end of the first year, the company will deposit $50 million in an account that is expected to earn 10% annually. Determine how much the uniformly increasing deposit must be each year thereafter to meet this goal.
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Related Book For
Thermal Energy Systems Design And Analysis
ISBN: 9781138735897
2nd Edition
Authors: Steven G. Penoncello
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