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Purgable hydrogen sulfide monitors

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A company that manufactures purgable hydrogen sulfide monitors will make deposits such that each one is 5% larger than the preceding one. How large must the first deposit at the end of year 1 be if the deposits extend through year 10 and the 6th deposit is $5500? use and interest rate of 6% per year.

The first deposit at the end of the year 1 must be $

Reference no: EM131985542

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