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Two years ago, the Fun Center deposited $3,200 in an investment account for the purpose of buying new equipment three years from today. Today, it
Two years ago, the Fun Center deposited $3,200 in an investment account for the purpose of buying new equipment three years from today. Today, it is adding another $5,000 to this account. It plans on making a final deposit of $3,500 to the account next year. How much will be available when it is ready to buy the equipment, assuming the account earns a rate of return of 6.85 percent?
$13,619.29
$13,430.84
$12,746.17
$14,194.54
$14,552.21
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