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  1. Adriste Philippines, Inc. expects to retire an existing machine at the end of 2013 and will replace it with a new machine for the same task at an estimated cost of P600,000. The old machine can be sold for P50,000 when it is replaced. To provide for replacement, the company intends to deposit the following amounts in an account earning interest at 8% compounded quarterly:

P200,000 at the end of 2010

P150,000 at the end of 2011

P100,000 at the end of 2012

What additional amount is needed at the end of 2013 to purchase the new machine?

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