Strategies on saving money to buy some new equipment

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The James Co. strategies on saving money to buy some new equipment. The company is opening an account today with a deposit of $15,000 then expects to earn 4% interest. After 3 years the firm needs to add an additional $50,000 to the account. If the account continues to earn 4%, how much currency will the James Co. have in their account five years from now?

Reference no: EM13109455

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