2. Calculating Future Value. You can purchase a service contract for all of your major appliances for
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2. Calculating Future Value. You can purchase a service contract for all of your major appliances for $180 a year. If the appliances are expected to last for 10 years and you earn 5 percent on your savings, what would be the future value of the amount you will pay for the service contract? (Obj. 1)
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