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Business, 23.04.2020 23:34 gildedav001

Scrooge McCluck anticipates that in five years he will need a bigger vault to store all of his money. The vault company has provided him with an estimate of $250,000 for the installation of the new vault at that time. McCluck can invest money at 12% compounded monthly over the 5 year period. How much (rounded) must he invest each period to have $250,000 at the end of the 5 year period

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