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Expansion expected to begin in four years

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Reference no: EM133069413

Apex Fabricating wants to accumulate $800,000 for an expansion expected to begin in four years.

If today Apex makes the first of equal quarterly payments into a fund earning 6.75% compounded monthly, what should the size of these payments be? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Reference no: EM133069413

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