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2. IAN Tech is saving S10,000 a month in a money fund to pay for equipment that will cost $700,000 five years from now. If

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2. IAN Tech is saving S10,000 a month in a money fund to pay for equipment that will cost $700,000 five years from now. If the interest rate is 1/4% per month, how much additional money will be needed to pay for this equipment

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