A company that manufactures purgable hydrogen sulfide monitors will make deposits such that each one is 7%

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A company that manufactures purgable hydrogen sulfide monitors will make deposits such that each one is 7% larger than the preceding one. How large must the first deposit at the end of year 1 be if the deposits extend through year 10 and the fourth deposit is $5550? Use an interest rate of 10% per year.

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Engineering Economy

ISBN: 978-0073523439

8th edition

Authors: Leland T. Blank, Anthony Tarquin

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