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A company must buy a new machine in 5 years for $ 1 8 0 , 0 0 0 . The company sets up a
A company must buy a new machine in years for $ The company sets up a sinking fund for this purpose. Find the payment into the fund at the end of each year if the money in the fund earns compounded annually.
Click here to view page of the sinking fund table.
Click here to view page of the sinking fund table.
Each periodic payment is approximately $
Round to the nearest cent as needed.
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