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A company wants to purchase a cutting machine now. The price of the machine is $60,000. If the company must pay $7000 uniformly each year,

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A company wants to purchase a cutting machine now. The price of the machine is $60,000. If the company must pay $7000 uniformly each year, starting from year 4 for 10 years, for service and maintenance of the machine. what is the equivalent future value in the last year for whole payments when the interest rate is 2% per year? (25 points)

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