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Teaching Since: Apr 2017
Last Sign in: 363 Weeks Ago, 6 Days Ago
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  • MBA,PHD in Psychology
    Northwest Florida State College
    Jun-1992 - May-1997

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    Northwest Florida State College,
    Aug-2006 - Nov-2015

Category > Economics Posted 08 May 2017 My Price 9.00

Linear Gradient: Find P, Given G, i, and N A1

Linear Gradient: Find P, Given G, i, and N A1

A textile mill has just purchased a lift truck that has a useful life of five years. The engineer estimates that maintenance costs for the truck during the first year will be $1,000. As the truck ages, maintenance costs are expected to increase at a rate of $250 per year over the remaining life. Assume that the maintenance costs occur at the end of each year. The firm wants to set up a maintenance account that earns 12% annual interest. All future maintenance expenses will be paid out of this account. How much does the firm have to deposit in the account now?

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CourseWork
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Status NEW Posted 08 May 2017 11:05 AM My Price 9.00

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