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    Business
  3. Study Set
    Introduction to Accounting
  4. Exam
    Exam 11: Time Value of Money
  5. Question
    Acme Company Wants to Have $1,200,000 Twenty Years from Today
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Acme Company Wants to Have $1,200,000 Twenty Years from Today

Question 2

Question 2

Essay

Acme Company wants to have $1,200,000 twenty years from today.How much must it put in the bank today to achieve this goal if it can earn 8 percent that is compounded monthly?

Correct Answer:

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