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April 21, 2014

Homework Help: contemporary math

Posted by Trish on Thursday, July 4, 2013 at 9:27am.

You are the owner of a Jani-King cleaning service franchise. Your accountant has determined that your business will need $27,500 in new equipment in 3 years. If your bank is paying 6% interest compounded monthly, how much must you invest today to meet this financial goal? (Round to the nearest whole dollar.)

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