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Show work using excel. A small manufacturer agrees to pay $450,000 three years from now to a supplier for a given amount of raw material.
Show work using excel.
A small manufacturer agrees to pay $450,000 three years from now to a supplier for a given amount of raw material. The manufacturer plans to deposit a fixed amount in a bank account every three months, starting three months from now, so that at the end of the three years the account holds $450,000. If the account pays an EAR of 9.31%, how much must be deposited every three months Step by Step Solution
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