Company expect the cost to increase each year

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A small sheet metal company has estimated that its fuel costs for the next 4 years will have a present worth of $70000. The company expects the cost next year to be $15000, after which time the cost will increase according to a uniform gradient. At an interest rate of 8% per year, by how much does the company expect the cost to increase each year?

Reference no: EM131136876

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