Atlas Moving and Storage wants to have enough money to purchase a new tractor-trailer in 4 years

Question:

Atlas Moving and Storage wants to have enough money to purchase a new tractor-trailer in 4 years at a cost of $290,000. If the company sets aside

$4000 in month 1 and plans to increase its set aside by a uniform amount each month, how much must the increase be provided the funds earn 6%

per year compounded monthly?

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JAPHETH KOGEI

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