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Starr Company decides to establish a fund that it will use 3 years from now to replace an aging production facility. The company will
Starr Company decides to establish a fund that it will use 3 years from now to replace an aging production facility. The company will make a $103,000 initial contribution to the fund and plans to make quarterly contributions of $51,000 beginning in three months. The fund earns 4%, compounded quarterly. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your "Table Factor" to 4 decimal places and final answers to the nearest whole dollar.) What will be the value of the fund 3 years from now? Table Values are Based on: Initial Investment Periodic Investments Future Value of Fund n= 3% Present Value Table Factor Future Value
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