A manufacturer desires to set aside a certain sum of money to cover the yearly operating expenses of P5k & the cost of replacing every yr the dies of stamping machine for P3k for a period of 10 yrs. The money will be deposited in a savings account earning 10% per annum, determine the sum of money that must be deposited including the initial cost of the die.
A manufacturer desires to set aside a certain sum of money to cover the yearly operating expenses of P5k & the cost of replacing every yr the dies of stamping machine for P3k for a period of 10 yrs. The money will be deposited in a savings account earning 10% per annum, determine the sum of money that must be deposited including the initial cost of the die.
Chapter1: Making Economics Decisions
Section: Chapter Questions
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A manufacturer desires to set aside a certain sum of money to cover the yearly operating
expenses of P5k & the cost of replacing every yr the dies of stamping machine for P3k for a period of 10 yrs. The money will be deposited in a savings account earning 10% per annum, determine the sum of money that must be deposited including the initial cost of the die.
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