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Five years from now - a company will have to replace a machine that will cost $2 million. Approximately how much money should the company start putting aside in a bank account at 6% per year to ensure the money for replacement will be available?

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Five years from now - a company will have to replace a machine that will cost $2 million. Approximately how much money should the company start putting aside in a bank account at 6% per year to ensure the money for replacement will be available?






 
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