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Alpha Industries has been having some difficulties on their production line. They anticipate they may need to make repairs for their product in the near
Alpha Industries has been having some difficulties on their production line. They anticipate they may need to make repairs for their product in the near future. Their account specialist estimates they should anticipate paying $94120 per year, beginning at the end of year 4 for 4 years. How much should Alpha set aside today in a bank account paying 5% interest compounded annually to cover all of the future repair costs?
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