In Problems 20-52: a. State the type; and (mathbf{b}). Answer the question. A laundromat will need seven

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In Problems 20-52:

a. State the type; and \(\mathbf{b}\). Answer the question.

A laundromat will need seven new washing machines in \(2 \frac{1}{2}\) years for a total cost of \(\$ 2,900\). How much money (to the nearest dollar) should be deposited now to pay for these machines?

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