The cost of electric bill is expected to increase linearly with a monthly difference of PhP0.05/ kWh/month. If the Torrijos family consumes an average of 500 kWh/month, how much should they deposit to pay the monthly electric bill in the next 20 years? The current electricity price is PhP5.00/kwh and money is worth 12% compounded monthly

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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The cost of electric bill is expected to increase
linearly with a monthly difference of PhP0.05/
kWh/month. If the Torrijos family consumes an
average of 500 kWh/month, how much should
they deposit to pay the monthly electric bill in
the next 20 years?

The current electricity price is PhP5.00/kwh and money is worth 12% compounded monthly.

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