McMillan Company manufactures electronic flowsensors that
Chapter 4, Problem 4.39(choose chapter or problem)
McMillan Company manufactures electronic flowsensors that are designed as an alternative to balland-tuberotometers. The company recently spent$3 million to increase the capacity of an existingproduction line. If the extra revenue generated bythe expansion amounts to $200,000 per month,how long will it take for the company to recover itsinvestment at an interest rate of 12% per year,compounded monthly? Solve using (a) tabulatedfactors and (b) a spreadsheet or calculator.
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