Florida hospital wants to buy new ambulance

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Florida Hospital wants to buy a new ambulance in five years. The ambulance is expected to cost $100,000 at that time. If the hospital can find an investment yielding 10% over that three-year period, how much would the hospital have to invest now in order to accumulate $100,000 at the end of the five years? PLEASE SHOW YOUR WORK.

Reference no: EM131886201

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