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The Aggarwal Corporation needs to save $ 1 3 million to retire a ( n ) $ 1 3 million mortgage that matures in 1

The Aggarwal Corporation needs to save $13 million to retire a(n) $13 million mortgage that matures in 18 years. To retire this mortgage, the company plans to put a fixed amount into an account at the end of each year for 18 years. The Aggarwal Corporation expects to earn 9 percent annually on the money in this account. What equal annual contribution must the firm make to account to accumulate the $13 million by the end of the 18 years? The equal contribution the firm mist make to this account is?

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