Haulton Dog Care Co. wants to finance a new animal shelter by making ten annual deposits into
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Question:
Haulton Dog Care Co. wants to finance a new animal shelter by making ten annual deposits into a fund earning 12% compounded annually. The first five deposits are to be $21000 each and will be paid at the beginning of the next five years. The last five deposits are to be $32,000 each and will be paid at the beginning of the last five years.
Requirement
What is the cost of the new animal shelter?
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