Question: PKU Company needs to replace a machine in 5 years. The new machine is expected to cost $18,000. How much does PKU have to put

PKU Company needs to replace a machine in 5 years. The new machine is expected to cost $18,000. How much does PKU have to put into a savings account today to have enough saved to purchase the machine, assuming an annual interest rate of 6%, compounded annually? (round to the nearest dollar)

Question 7 options:

	$13,431
	$15,165
	$13,451
	$18,000

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