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Amortization Question: How much would a business have to invest in a fund to receive $20,000 at the end of every month for 6 years?
Amortization Question:
How much would a business have to invest in a fund to receive $20,000 at the end of every month for 6 years? The fund has an interest rate of 4.75% compounded monthly and the first withdrawal is to be made in 4 years and 1 month. (Round to the nearest cent)
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