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A small business has determined that the machinery the currently use will wear out 17 years. To replace the new machine when it wears out

A small business has determined that the machinery the currently use will wear out 17 years. To replace the new machine when it wears out the company wants to establish a saving account today. If the interest rate on the account is 1.6 percent per quarter and the cost of the machinery will be $285.000.how much will the company have to deposit today

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