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Harlan Corporation deposits $100,000 every June 30th and December 31st in a savings account (beginning in the current year) for the next five years so

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Harlan Corporation deposits $100,000 every June 30th and December 31st in a savings account (beginning in the current year) for the next five years so that it can purchase a new piece of machinery at the end of five years. The interest rate is 4%. How much money will Harlan Corporation have at the end of five years? Use the future value of an ordinary annuity factor table shown below to derive your answer. Use the future value of an ordinary annuity factor table shown below to derive your answer. Periods123456789101%12.010003.030104.060405.101016.152027.213548.285679.3685310.462212%12.020003.060404.121615.204046.308127.434288.582979.7546310.949723%12.030003.090904.183635.309146.468417.662468.8923410.1591111.463884%12.040003.121604.246465.416326.632987.898299.2142310.5828012.00611

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