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Instead of investing the entire $1,000,000, Lee invests $300,000 today and plans to make 9 equal annual investments into the fund beginning one year from today. What amount should the payments be if Lee plans to establish the $1,898,000 foundation at the end of 9 years at 6% interest?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9430588

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