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Finance

1) Demco Products, a company that manufactures stainless steel control valves, has a fund for equipment replacement that contains $500,000. The company plans to spend $85,000 each year on new equipment.

Use the NPER function to determine the exact number of years it will take to reduce the fund to no more than $85,000 at an interest rate of 7% per year.

The exact number of years is

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92642239

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