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Logan's is a non-profit company that helps with disaster relief. They would like to purchase some new equipment that is estimated to cost $185,000 two
Logan's is a non-profit company that helps with disaster relief. They would like to purchase some new equipment that is estimated to cost $185,000 two years from now and an additional $135,000 five years from now. If Logan's wants to set aside enough money now to cover these future costs, how much must be invested today as a lump sum at a nominal interest rate of 6% per year, compounded quarterly?
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