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Crabtree Inc. is planning on purchasing a new piece of machinery for $5,000,000 on December 31, 2024. How much would Crabtree Inc. have to deposit

Crabtree Inc. is planning on purchasing a new piece of machinery for $5,000,000 on December 31, 2024. How much would Crabtree Inc. have to deposit in an investment account paying 4% interest (compounded semi-annually) on January 1, 2021 to have enough money set aside to make this purchase on December 31, 2024?

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