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Anderson-McKee Construction expects to invest $835,000 for heavy equipment replacement 2 years from now and another $1.1 million 4 years from now. How much must the company deposit into a sinking fund each month to provide for the purchases, if the fund earns a rate of return of 12% per year compounded monthly?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91720089

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