Take Test: Chapter $5$ Homework

small business has determined that the machinery they currently use will wear out in $18$ years. To replace the new machi Ihen it wears out, the company wants to establish a savings account today. If the interest rate on the account is $1\mathrm{.}5$ percent uarter and the cost of the machinery will be $$275,000,$ how much will the company have to deposit today?

$$94,140\mathrm{.}75$

$$210,350\mathrm{.}69$

$$96,232\mathrm{.}77$

$$95,395\mathrm{.}96$

$$96,344\mathrm{.}54$