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A firm wants to set up a savings account at 8% interest in order to...

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Accounting

A firm wants to set up a savings account at 8% interest in order to meet the expected expenditures of a forklift. Compute the amount that should be invested now to provide three payments with the first payment in the amount $6000 occurring three years hence, then $4000 five years hence and finally $5000 eight years hence.

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