A chip manufacturing company wants to have$10million

Chapter 2, Problem 2.70

(choose chapter or problem)

A chip manufacturing company wants to have$10million available 5 years from now in order tobuild new warehouse and shipping facilities. Ifthe company can invest money at 10% per year,theamount that it must deposit each year in years1 through 5 to accumulate the $10 million is closestto:(a) $1,638,000 (b) $2,000,000(c) $2,638,000 (d) $2,938,000

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