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Posted on Jul 17, 2024

In 2019, Cart Inc. adopted a plan to accumulate funds for environmental remediation beginning July 1, 2024 at an estimated cost of $20 million. Cart

In 2019, Cart Inc. adopted a plan to accumulate funds for environmental remediation beginning July 1, 2024 at an estimated cost of $20 million. Cart plans to make five equal annual payments into a fund earning 6% interest compounded annually. The first deposit is scheduled for July 1, 2019. Determine the amount of the required annual deposit. Use Excel or a financial calculator for the computations. Round your answer to the nearest dollar. Required annual deposit $ 0 Check

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