An A&E firm planning for a future expansion deposited $40,000 each year for 5 years into a

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An A&E firm planning for a future expansion deposited $40,000 each year for 5 years into a sinking (investment) fund that was to pay an unknown rate of return. If the account had a total of $451,000 immediately after the fifth deposit, what rate of return did the company make on these deposits?

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Engineering Economy

ISBN: 978-0073523439

8th edition

Authors: Leland T. Blank, Anthony Tarquin

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