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A manufacturer buys a machine for 20,000. The manufacturer estimates that the machine will last 15 years. It will be depreciated using the constant percentage method with an annual depreciation rate of 20%. At the end of each year, the manufacturer deposits an amount into a fixed that pays 6% annually. Each deposits is equal to the depreciation expense for that year. How much money will the manufacturer have accumulated in the fund at the end of 15 years?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92095395

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