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Metso Automation, which manufactures addressable quarter-turn electric actuators, is planning to set aside $100,000 now and $150 000 ane year from now for the replacement of the heating and cooling systems after four years from now. At an interest rate of 6.5% per year, determine how much will the company have in the account for the replacement job (end of year 4)?

Metso Automation, which manufactures addressable quarter-turn electric actuators, is planning to set aside $100,000 now and $150 000 ane year from now for the replacement of the heating and cooling systems after four years from now. At an interest rate of 6.5% per year, determine how much will the company have in the account for the replacement job (end of year 4)?

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Metso Automation, which manufactures addressable quarter-turn electric actuators, is planning to set aside $100,000 now and $150 000 one year from now for the replacement of the heating and cooling systems after four years from now. At an interest rate of 6.5% per year, determine how much will the company have in the account for the replacement job (end of year 4)? O $309.839.08 $321 616.59 $329,978.62 $240.845.07
Transcribed Image Text:Metso Automation, which manufactures addressable quarter-turn electric actuators, is planning to set aside $100,000 now and $150 000 one year from now for the replacement of the heating and cooling systems after four years from now. At an interest rate of 6.5% per year, determine how much will the company have in the account for the replacement job (end of year 4)? O $309.839.08 $321 616.59 $329,978.62 $240.845.07
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