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The State of Chiapas, Mexico, decided to fund a program for literacy. The first cost of $225,000 now and an updated budget of $70,000 every 7 years forever is requested. Determine the perpetual equivalent annual cost at an interest rate of 10% per vear. The perpetual equivalent annual cost is $-

The State of Chiapas, Mexico, decided to fund a program for literacy. The first cost of $225,000 now and an updated budget of $70,000 every 7 years forever is requested. Determine the perpetual equivalent annual cost at an interest rate of 10% per vear. The perpetual equivalent annual cost is $-

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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The State of Chiapas, Mexico, decided to fund a program for literacy. The first cost of $225,000 now and an updated budget of $70,000 every 7 years forever is requested. Determine the perpetual equivalent annual cost at an interest rate of 10% per year. The perpetual equivalent annual cost is $-
Transcribed Image Text:The State of Chiapas, Mexico, decided to fund a program for literacy. The first cost of $225,000 now and an updated budget of $70,000 every 7 years forever is requested. Determine the perpetual equivalent annual cost at an interest rate of 10% per year. The perpetual equivalent annual cost is $-
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