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Problem:

It is anticipated that a piece of construction equipment will cost $500,000 two years from now. If money is worth 12%, what will be the cost of the machine 10 years from now?

Required:

A. $1,553,000

B. $1,569,000

C. $1,463,100

D. $1,238,000

Note: Please show how you came up with the solution.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91162160

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