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This set of problems is designed to be calculated using the Excel or financial calculator

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This set of problems is designed to be calculated using the Excel or financial calculator.
You can also use algebraic formulas. Do not use financial tables to calculate these problems.

Cooling Tools, Inc. is currently producing 1,000 of small refrigerators per month but the company’s CEO plans to increase production at a rate of 6.20 percent per month until the firm is producing 6,204 of refrigerators per month. How many months will this take?

Round the answer to two decimal places.

Your Answer:

 
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