2. Mountain International has a debt payment of $1.27 million that it must make 3 years...
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2. Mountain International has a debt payment of $1.27 million that it must make 3 years from today. The company does not want to come up with the entire amount at that time, so it plans to make equal monthly deposits into an account starting 1 month from now to fund this liability. If the company can earn a return of 5.98 percent compounded monthly, how much must it deposit each month? 2. Mountain International has a debt payment of $1.27 million that it must make 3 years from today. The company does not want to come up with the entire amount at that time, so it plans to make equal monthly deposits into an account starting 1 month from now to fund this liability. If the company can earn a return of 5.98 percent compounded monthly, how much must it deposit each month?
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