McMillan Company manufactures electronic flow sensors that are designed as an alternative to balland- tube rotometers. The
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McMillan Company manufactures electronic flow sensors that are designed as an alternative to balland- tube rotometers. The company recently spent $3 million to increase the capacity of an existing production line. If the extra revenue generated by the expansion amounts to $200,000 per month, how long will it take for the company to recover its investment at an interest rate of 12% per year, compounded monthly? Solve using
(a) Tabulated factors and
(b) A spreadsheet or calculator.
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