Operating-maintenance expenses for mining matching

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Reference no: EM13873967

The operating and maintenance expenses for a mining matching are expected to be $11,000 in the first year and increase by $800 per year during the 15-year life of the machine. What uniform series of payments would cover these expenses over the life of the machine? Interest is 10 percent/year compounded annually.

a) $11,000

b) $4,223

c) $13,423

d) $15,223

Reference no: EM13873967

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