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Exercise 5 John Deere-Dubuque expects to invest $1 million for heavy equipment replacement 2 years from now and another $1.5 million per year at the

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Exercise 5 John Deere-Dubuque expects to invest $1 million for heavy equipment replacement 2 years from now and another $1.5 million per year at the end of years 4, 5 and 6. How much must the company deposit into a sinking fund each month to provide for the purchases, if the fund earns a rate of return of 12% per year compounded daily

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