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Apex Glass would like to withdraw $1 million 4 years from today to fund research. The withdrawals will then continue for 5 years total and
Apex Glass would like to withdraw $1 million 4 years from today to fund research. The withdrawals will then continue for 5 years total and decline 10% per year. How much must the company set aside today to pay this research fund if accounts earn 7%?
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