When they are ready to buy the equipment

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Reference no: EM131968762

One year ago, the Jenkins Family Fun Center deposited $5,353 in an investment account for the purpose of buying new equipment four years from today. Today, they are adding another $6,137 to this account. They plan on making a final deposit of $9,157 to the account next year. How much will be available when they are ready to buy the equipment, assuming they earn a 7 percent rate of return?

Reference no: EM131968762

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