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Question 4.37: The repair and maintenance cost of a machine is zero at the ...

The repair and maintenance cost of a machine is zero at the end of first quarter, ₹5,000 at the end of second quarter and then it increases by ₹5,000 at the end of each quarter thereafter for a total of 3 years. Determine the equivalent uniform payment at the end of each quarter if interest rate is 12\% compounded quarterly.

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