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One year ago, Lambert Pharmaceuticals deposited $30,000 in an investment account for the purpose of buying new packaging machinery three years from today. Today, it
One year ago, Lambert Pharmaceuticals deposited $30,000 in an investment account for the purpose of buying new packaging machinery three years from today. Today, it is adding another $14,000 to this account. The company plans on making a final deposit of $15,800 to the account one year from today. How much will be available when it is ready to buy the equipment, assuming the account pays 4.5 interest?
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