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How much money needs to be set aside each year

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Question: Elsa purchased an equipment that costs Php 300,000 today and has a resale value of Php 55,000 after 10 years. Arendelle has an inflation rate of 4% per year. The annual interest rate earned on investment is 6%. How much money needs to be set aside each year in order to replace the said equipment with an identical model 10 years from now?

Reference no: EM132749542

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