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A small business has determined that the machinery they currently use will wear 18 years. To replace the new machine when it wears out, the

A small business has determined that the machinery they currently use will wear 18 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 1.5 percent per quarter and the cost of the machinery will be $275,000, how much will the company have to deposit today

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