Engineering Economy/Finance Question!
To join an upscale country? club, an individual must first purchase a membership bond for ?$23,000. In? addition, monthly membership dues are ?$270. Suppose an individual wants to put aside a lump sum of money now to pay for her basic country club membership expenses? (including the ?$23,000 ?bond) over the next 25 years. She can earn an APR of 7?%, compounded? monthly, on her investments. What amount must this person now commit to the? membership?
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