The State of Chiapas, Mexico, decided to fund a program for literacy. The first cost is $200,000
Question:
The State of Chiapas, Mexico, decided to fund a program for literacy. The first cost is $200,000 now, and an update budget of $100,000 every 7 years forever is requested. Determine the perpetual equivalent annual cost at an interest rate of 10% per year.
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The updated cost can be calculated by the following ...View the full answer
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Akshay Sagar
I like sharing my experience and my knowledge to others. Teaching is not only my part-time job but also part of my life. I have been teaching since I was in 10th grade. My father used to run a coaching center and from there I got motivated in this filed. I even used to give free private tuition to my juniors when I was in college. I always believe in clearing concepts from the very beginning. Students always wanted to get some lectures from a particular topic if there concept was not clear in school or college. There is always a friendly behavior between me and my students.
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