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2. An engineering firm knows that they will need to pay $3,000 each year for 4 years to maintain the operation of some equipment. If

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2. An engineering firm knows that they will need to pay $3,000 each year for 4 years to maintain the operation of some equipment. If they invest a lump sum of money into an account now at an annual interest rate of 4%, what is the amount of money that needs to be invested to cover the annual maintenance cost of the equipment

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