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A reactor is purchased by a chemical plant. It is estimated that maintenance on the reactor...

A reactor is purchased by a chemical plant. It is estimated that maintenance on the reactor will cost $5000 the first year and increase by $2000 each year after that. Approximately how much must be deposited in an account that pays 6% interest when the reactor is purchased to pay for maintenance over the next 5 years?

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The Answer Will be $36,931or

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