Question

Pollution control equipment for a pulverized coal cyclone furnace is expected to cost $190,000 2 years from now and another $120,000 four years from now if mono mahila power wants to set aside enough money now to cover these cost how much must be invested at an interest rate of 9% per year completed monthly?

Answer 1

Cost from two years now is $190,000.

• Cost from four years now is $120,000.

• Interest rate is 8% per year compounding Quarterly.

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