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Improvement to the runways at a regional airport are expected to cost $2million. To pay for the improvements, the airport authority will increase the landing

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Improvement to the runways at a regional airport are expected to cost $2million. To pay for the improvements, the airport authority will increase the landing fees of commercial planes. If the airport wants to recover its investment in 4 years, how much money must be generated from the increased fees each year at an interest rate of 8% per year compounded semiannually

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