Certain piece of equipment

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A man borrowed $750 from a bank. He agreed to repay the sum at the end of 3 years, together with the interest at 8% per year. How much will he owe the bank at the end of 3 years? (Answer: $945) 3-16 We know that a certain piece of equipment will cost $150,000 in 5 years. How much must be deposited today using 10% interest to pay for it?

Reference no: EM131807781

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