Wandaful widgets will need $2.2 million 4.5 years from now to replace some equipment. Currently, the firm has some extra cash and would like to establish a savings account to this purpose. The account pays for 3.6 perfect interest, coumponded annually. How much money must the company deposit today to fully fin the equipment purchase?

4 Points Wandaful Widgets will need $2.2 million 4.5 years from now to replace some equipment. Currently, the firm has some extra cash and would like to establish a savings account for this purpose. The account pays 3.6 percent interest, compounded annually. How much money must the company deposit today to fully fund the equipment purchase