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19-02-2024
Business

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To pay for new machinery in 5 years, a company owner invests $20,000 at 10.5% compounded quarterly. How much money will be available in 5 years? Round your answer to the nearest cent.
a) $35,482.11
b) $37,691.24
c) $39,847.63
d) $41,952.18

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