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Leberland Corporation deposits $225.000 every year in a savings account (beginning at the end of the current year) for the next eight years so that

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Leberland Corporation deposits $225.000 every year in a savings account (beginning at the end of the current year) for the next eight years so that it can purchase a new piece of machinery at the end of eight years. The interest rate is 6% How much money wil Leberland Corporation have at the end of eight years? Use the future value of an ordinary annuity factor table shown below to derive your answer. Excerpt from future value of an ordinary annuity factor table Periods 3% 1.00000 203000 3 09090 4.18363 530914 6.45841 ZAAR 4% 100000 204000 312160 424646 5 41632 6.63298 7 RORO 5% 1.00000 205000 3.15250 431013 552563 6 80191 6% 1.00000 206000 3.18360 437462 563709 697532

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