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1 John plans to retire in 12 years. Upon retiring, he would like to take an extended vacation, which he expects will cost at least

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1 John plans to retire in 12 years. Upon retiring, he would like to take an extended vacation, which he expects will cost at least $40,000. What lump-sum amount must he invest now to have $40,000 at the end of 12 years if the rate of return is a 8% b 12% stng in a piece of machinery. The investment 15 vears. The machine

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