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Cost of steel bodies for pressure valves

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Metalfab Pump and Filter Inc. estimates that the cost of steel bodies for pressure valves will increase by $2 every 3 months. If the cost for the first quarter is expected to be $80, what is the present worth of the costs for a 4-year time period at an interest rate of 1.78% per quarter?

The present worth is $

Please explain!!

Reference no: EM132312351

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