Leberland Corporation deposits $100,000 every year in a savings account (beginning at the end of...
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Leberland Corporation deposits $100,000 every year in a savings account (beginning at the end of the current year) for the next eight years so that it can purchase a new piece of machinery at the end of eight years. The interest rate is 5%. How much money will Leberland Corporation have at the end of eight years? Use the future value of an ordinary annuity factor table shown below to derive your answer. A. $954,911 B. $215,507 C. $431,013 D. $477,456
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