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An organization would like to expand a large piece of equipment in their factory that would help make the process more efficient in the

 

An organization would like to expand a large piece of equipment in their factory that would help make the process more efficient in the future. If they are able to invest $400,000 for an initial payment, determine the approximate future value to begin installation at the beginning of the third year. We can assume an interest rate of 7% annually.

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