A company that manufactures purgable hydrogen sulfide monitors will make deposits suchthat each one is 5% larger
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Question:
A company that manufactures purgable hydrogen sulfide monitors will make deposits suchthat each one is 5% larger than the precedingone. How large must the first deposit at the end of year 1 be if the deposits extend throughyear 10 and the 5thdeposit is $4250? Use an interest rate of 11% per year.
The first deposit at the end of year 1 must be $----
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