Cooling Tools, Inc. is currently producing 1,479 small refrigerators per month but the company's CEO plans to increase production at a rate of 5% per month until the firm is producing 5,970 refrigerators per month. How many months will this take?

Entrepreneurial Finance
6th Edition
ISBN:9781337635653
Author:Leach
Publisher:Leach
Chapter13: Other Financing Alternatives
Section: Chapter Questions
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Cooling Tools, Inc. is currently
producing 1,479 small refrigerators
per month but the company's CEO
plans to increase production at a rate
of 5% per month until the firm is
producing 5,970 refrigerators per
month.
How many months will this take?
Transcribed Image Text:Cooling Tools, Inc. is currently producing 1,479 small refrigerators per month but the company's CEO plans to increase production at a rate of 5% per month until the firm is producing 5,970 refrigerators per month. How many months will this take?
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