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5. The average annual cost of damages caused by floods to a certain subdivision located...

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5. The average annual cost of damages caused by floods to a certain subdivision located along the Pasig River is estimated at P700,000. To build a gravity dam to protect the area from the floods would cost P2,500,000.00 and would involve an annual maintenance cost of P20,000.00. With an interest at 8% compounded annually, how many years will it take for the dam to pay for itself

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