A business must make a payment of 40000 five years from now, Business Economics

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A business must make a payment of 40000 five years from now

A business must make a payment of $40,000 five years from now. To fund that future payment, the business will deposit money today into an account which will earn 0.49% per month. How much must the business deposit today, in order to have $40,000 at the end of five years?

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