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Your company must make a $ 3 5 5 , 0 0 0 balloon payment on a lease 2 years and 9 months from today.
Your company must make a $ balloon payment on a lease years and months from today. You have been directed to deposit an amount of money quarterly, beginning today, to provide for the $ payment. The account pays per year, compounded quarterly. What is the required quarterly deposit? Note: Lease payments are due at the beginning of the quarter.
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