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There are two machines that provide the same service per year. The first requires an initial payment of $100 and lasts for 9 years. The
There are two machines that provide the same service per year. The first requires an initial payment of $100 and lasts for 9 years. The second requires a down payment of $X and lasts 2 years. The discount rate is 10% per year compounded annually. Determine X so that both alternatives are equivalent.
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