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Travis International has a debt payment of $2.34 million that it must make 6 years from today. The company does not want to come up

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Travis International has a debt payment of $2.34 million that it must make 6 years from today. The company does not want to come up with the entire amount at that time, so it plans to make equal monthly deposits into an account starting 1 month from now to fund this liability. If the company can earn a return of 5.33 percent compounded monthly, how much must it deposit each month? Multiple Choice $29.494.70 $27,651.28 $27,529.00 $32,500.00 $28,431.30

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