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4.16 Eastern Aviation Group (EAG) is planning to accumulate $1,000,000 in five years for future expansion. How much does EAG have to set aside today

4.16 Eastern Aviation Group (EAG) is planning to accumulate $1,000,000 in five years for future expansion. How much does EAG have to set aside today earning 8 percent interest per year compounded quarterly to accumulate $1,000,000 in five years?

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