Knowledge Check

Davis Depot plans to invest $$3,500$ in a savings account paying $8\%$ interest at the end of each year for $5$ years to fund the replacement of a forklift. How much will be available to buy the forklift? $($For calculation purposes, use five decimal places as displayed in the factor table provided. Round your answer to two decimal places $($e$.$g$.,52\mathrm{.}75).)$

Table $2$: Future Value of an Annuity of $1$

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