Investment account for purpose of buying new equipment

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One year ago, the Jenkins family fund center deposited $4,900 in an investment account for the purpose of buying new equipment four years from today. Today, they are adding another $6,700 to this account. They plan on making a final deposit of $8,900 to the account next year. How much would be able when they are ready to buy the equipment assuming the earn a 6 percent rate of return?

-$24,899.62

-$25,615.94

-$23,103.06

-$24,372.83

-$24,325.49

Reference no: EM13880575

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