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How much will need to be invested today

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Reference no: EM132199864

You are an operations manager for a company in charge of purchasing a major piece of equipment. The cost of the equipment, to be paid 18 months from now is $850,000.

REQUIRED: If you want to set aside enough money for the purchase, how much will need to be invested today? Assume an 8.25 annual discount rate, compounded monthly.

Reference no: EM132199864

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