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A small biotechnology firm is saving to purchase new equipment which will cost $395,000 at the time of purchase. They are able to save money
A small biotechnology firm is saving to purchase new equipment which will cost $395,000 at the time of purchase. They are able to save money in an account which earns 12% per year, compounding quarterly. If they wish to purchase the equipment two years from now, how much will they need to save per month?
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