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The new improvement project is estimated to cost $280,000. If the current savings account earns interest at a rate of 8 % per year, compounded
The new improvement project is estimated to cost $280,000. If the current savings account earns interest at a rate of 8% per year, compounded continuously, how much money should be set aside now to have enough to pay for the new improvement project in 5 years?
Hint: If there is no interest table for this specific ia, find factor value by interpolation, formula, or spreadsheet.
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