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Low-energy light bulbs cost $6.50, have a life of nine years, and use about $2.00 of electricity a year, paid at the end of each year. The real discount rate is 5%, given as an effective annual rate. Assume that all cash flows are real. The inflation rate is 2%, given as an effective annual rate. Find the Equivalent Annual Cost (EAC) of the low-energy bulbs.
Sagot :
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