One year ago, Lambert Pharmaceuticals deposited $30,000 in an investment account for the purpose of buying new packaging machinery three years from today. Today, it is adding another $14,000 to this account. The company plans on making a final deposit of $15,800 to the account one year from today. How much will be available when it is ready to buy the equipment, assuming the account pays 4.5 interest?
One year ago, Lambert Pharmaceuticals deposited $30,000 in an investment account for the purpose of buying new
packaging machinery three years from today. Today, it is adding another $14,000 to this account. The company plans on making a final deposit of $15,800 to the account one year from today. How much will be available when it is ready to buy the equipment, assuming the account pays 4.5 interest?
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