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A supplier of certain suspension system parts for General Motors wants to have a contingency fund that it can draw on during down periods of
A supplier of certain suspension system parts for General Motors wants to have a contingency fund that it can draw on during down periods of the economy. The company wants to have $15 million in the fund 5 years from now. If the company deposits $1.5 million now. what uniform amount must it add at the end of each of the next 5 years to reach its goal if the fund earns a rate of return of 10% per year is closest to? 73 A supplier of certain suspension system parts for General Motors wants to have a contingency fund that it can draw on during down periods of the economy. The company wants to have $15 million in the fund 5 years from now. If the company deposits 51,5 million now, what uniform amount must it add at the end of each of the next 5 years to reach its goal if the fund earns a rate of return of 10% per year is closest to
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