How much money must be invested now at 8% to purchase a machine in 5 years ?for $200,000

7. An engineer deposits $3,000 into a saving account at the end of the first year. He will increase the amount in the account by 2% a year for 10 years. If the interest rate is 8% per year, what is the present worth of the amount in the account?

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You want to borrow $1500 at 8% and you are willing to pay $210 in simple interest.How long can you keep the money