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2. (3 Marks) You would like to open a business in 3 years. This business will require $500,000 to startup. How much should you deposit

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2. (3 Marks) You would like to open a business in 3 years. This business will require $500,000 to startup. How much should you deposit at the end of each month for the next three years into an account so that you will have the required $500,000 at the end of three years. This account already has $100,000 in it. The interest rate is 6% compounded monthly

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