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EEM, INC has a $1,000,000 debt outstanding that is due after 15 years. The contract required that after five years the firm must set aside

EEM, INC has a $1,000,000 debt outstanding that is due after 15 years. The contract required that after five years the firm must set aside annually an amount so the debt is retired in full at maturnity. If EEM can earn 8% on inested funds how much must the company set aside each year?

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