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Gensing wants to expand its business at the end of 10 years. To do so, Gensing invests $20,000 today and in addition plans to save

Gensing wants to expand its business at the end of 10 years. To do so, Gensing invests $20,000 today and in addition plans to save $40,000 at the end of each year for the first 4 years and $50,000 annually for the following years. (years 5 to 8). Due to other expenses, Gensing will not be able to save in its last two years. If the account earns 7% compounded annually, how much will Gensing have 10 years from now?

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