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A company that manufactures purgable hydrogen sulfide monitors is planning to make deposits such that each one is 5% smaller than the preceding one. How large must the first deposit be (at the end of year 1) if the deposits extend through year 10 and the fourth deposit is $1250? Use an interest rate of 10% per year.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91720031

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