An Australian-based energy drink manufacturer plans to expand its international markets to the untapped Middle-East region. The company expects that the expansion will bring additional net income of $31583 in the first year of the operation and amounts increasing by $5455 for the next 9 years. What is the annual equivalent amount of the net income at an interest rate of 12% per year? (Write your answer without unit and at least two digit)
An Australian-based energy drink manufacturer plans to expand its international markets to the untapped Middle-East region. The company expects that the expansion will bring additional net income of $31583 in the first year of the operation and amounts increasing by $5455 for the next 9 years. What is the annual equivalent amount of the net income at an interest rate of 12% per year? (Write your answer without unit and at least two digit)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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