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Answer to Question #40048 in Finance for Xyrenne Gayle Lorenzo

Question #40048
A city is spending $20 million on a new sewage system. The expected life of the system is 40 years and it will have no market value at the end of its life. Operating and maintenance expenses for the system are projected to average $0.6 million per year. If nominal rate is 8% compounded continuously, what is the capitalized worth of the system?
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