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3. (27 pts) You are an engineer at a Target warehouse facility. New palletizing machines...

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3. (27 pts) You are an engineer at a Target warehouse facility. New palletizing machines have just been purchased, and you expect to have maintenance expenses starting at the end of year three with a $6,000 expense. This maintenance expense will increase by $500 each year after this initial year three expense through the end of year eight. How much money would you have to invest today into an account paying 4.0% interest compounded annually to completely cover all future maintenance costs for the palletizers

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