Freeport McMoran purchased two model MTVS peristaltic pumps (to inject sulfuric acid and King Lee antiscalant) for use at its nanofiltration water conditioning plant. The cost of the pumps was $950 each. If the chemical cost is $11 per day, determine the equivalent cost per month at an interest rate of 12% per year, compounded monthly. Assume 30 days per month and a 3-year pump life

Elements Of Electromagnetics
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Author:Sadiku, Matthew N. O.
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Freeport McMoran purchased two model MTVS peristaltic pumps (to inject sulfuric acid and King Lee antiscalant) for use at its nanofiltration water conditioning plant. The cost of the pumps was $950 each. If the chemical cost is $11 per day, determine the equivalent cost per month at an interest rate of 12% per year, compounded monthly. Assume 30 days per month and a 3-year pump life. Notes: On the first page of your answer sheet, write down your group number (Group A, Group B, Group C......etc ), student names, and submit your file by uploading it here. 

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