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A company establishes a sinking fund to cover planned maintenance, budgeting for $50,000 in 10 years. This fund will require payments of $1018 each quarter
A company establishes a sinking fund to cover planned maintenance, budgeting for $50,000 in 10 years. This fund will require payments of $1018 each quarter in an account that earns 4.1% interest. If the total amount deposited had been invested as a one-time deposit with the same interest rate, how much would the account be worth after 10 years?
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