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A small business has determined that the machinery they currently use will wear out in 18 years. To replace the new machine when it wears
A small business has determined that the machinery they currently use will wear out in 18 years. To replace the new machine when it wears out, the company wants to establish a savings account today. If the interest rate on the account is 2.1 percent per quarter and the cost of the machinery will be $335,000, how much will the company have to deposit today? Multiple Choice $230,452.51 $75,022.47 $76,022.77 $76,689.64 O $78,436.41
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