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A company will save $8,501 at the end of each quarter in a 10% annual rate account (assume quarterly compounding) to eventually obtain the $275,000

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A company will save $8,501 at the end of each quarter in a 10% annual rate account (assume quarterly compounding) to eventually obtain the $275,000 needed to replace its equipment. How many years will it take to obtain the necessary funds? (Ch6) 20 years 6 years 24 years 5 years

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