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One year ago, the Jenkins Family Fun Center deposited $3,800 in an investment account for the purpose of buying new equipment four years from today.
One year ago, the Jenkins Family Fun Center deposited $3,800 in an investment account for the purpose of buying new equipment four years from today. Today, they are adding another $5,600 to this account. They plan on making a final deposit of $7,800 to the account next year. How much will be available when they are ready to buy the equipment, assuming they earn a 6 percent rate of return? |
$20,430.48 | |
$21,445.05 | |
$20,093.28 | |
$18,920.17 | |
$20,892.66 |
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