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DEF Corp. wants to accumulate $ 1 , 2 0 0 , 0 0 0 to purchase new technology in 1 2 years. They plan

DEF Corp. wants to accumulate $

1, 200, 000

to purchase new technology in

12

years.

They plan to set aside an equal amount of money at the start of each quarter, beginning

now. The firm can earn an APR of

10 %

compounded quarterly. How much should the

firm save each quarter to reach their goal? How to do this using excel?

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