Northwest Iron and Steel is considering getting involved in electronic commerce. A modest e-commerce package is available for $30,000. The company wants to recover the cost in 2 years. Find the equivalent amount of new revenue that must be realized every 6 months at an interest rate of 3% per quarter using (a) factor formula, and (b) a single-cell spreadsheet function that includes an EFFECT function.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Northwest Iron and Steel is considering getting involved
in electronic commerce. A modest e-commerce
package is available for $30,000. The company wants
to recover the cost in 2 years. Find the equivalent
amount of new revenue that must be realized every 6 months at an interest rate of 3% per quarter using (a)
factor formula, and (b) a single-cell spreadsheet function
that includes an EFFECT function.

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