annuity

| December 10, 2015

One year ago, Marshall Laminating Company deposited $16,500 in an investment account for the purpose of buying new equipment three years from today. Today, it is adding another $12,000 to this account. The company plans on making a final deposit of $20,000 to the account one year from today. How much will be available when it is ready to buy the equipment, assuming Marshall earns 5 percent on its invested funds?

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