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Page 379 / #29 Layton industries is investing $3,000 each quarter to modernize their equipment in 10 years. Their investment earns 9% compounded quarterly. a.

Page 379 / #29

Layton industries is investing $3,000 each quarter to modernize their equipment in 10 years. Their investment earns 9% compounded quarterly.

a. How much will they have in 10 years?

b. How much interest will have been earned?

Please show your step by step solution.

Thank you.

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