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Intel will need $2.2 million 5 years from now to replace aging equipment. Currently, the firm has extra cash and would like to establish a
Intel will need $2.2 million 5 years from now to replace aging equipment. Currently, the firm has extra cash and would like to establish a money market account for this purpose. The account pays 3.6% interest. How much money must the company deposit today to fully fund the equipment purchase?
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