What increasing uniform amount needs to set aside

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Your company plans to buy a new milling machine in 4 years that will cost $290,000. You company will put aside $4000 in the first month and will increase it's monthly amount uniformly each month for the 4 years. If the funds will earn 6% per year compounded monthly, what increasing uniform amount needs to set aside each month to pay for the investment? A. $250.00 B. $100.00 C. $162.50 D. $60.36

Reference no: EM131003028

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