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3.27 Improvements to the runways at a regional airport are expected to cor $1.7 million....

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Accounting

3.27 Improvements to the runways at a regional airport are expected to cor $1.7 million. To pay for the improvements, the airport authority will increase the landing fees of commercial planes. If the airport wants to w recover its investment in 4 years , how much money must be generated from the increased fees each year at an interest rate of 8% per year com pounded semiannually ?

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