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Five years from today, you plan to invest $3,550 for 6 additional years at 7.1 percent compounded annually. How much will you have in your
Five years from today, you plan to invest $3,550 for 6 additional years at 7.1 percent compounded annually. How much will you have in your account 11 years from today? O $5,337.28 $4,950.83 O $5,454.51 O $5,357.54 O $6,532.11 A small business has determined that the machinery they currently use will wear out in 16 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 1 percent compounded quarterly and the cost of the machinery will be $250,000, how much will the company have to deposit today? O $133,477.04 O $135,181.54 O $134,006,05 $132.242.82 O $213,205.32
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