When they are ready to buy the equipment

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Reference no: EM131925402

One year ago, the Jenkins Family Fun Center deposited $4,200 in an investment account for the purpose of buying new equipment four years from today. Today, they are adding another $6,000 to this account. They plan on making a final deposit of $8,200 to the account next year. How much will be available when they are ready to buy the equipment, assuming they earn a 5 percent rate of return?

Reference no: EM131925402

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