Merritt manufacturing needs to accumulate 15 million to, Financial Management

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Merritt manufacturing needs to accumulate 15 million to

Merritt Manufacturing needs to accumulate $15 million to retire a bond issue that matures in 12 years. The firm's manufacturing division can contribute 100,000$ per quarter to an account that will pay 2% quarterly. How much will the remaining divisions have to contribute every month to a second account that pays .5% per month in order to reach the 15$ million goal?

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Financial Management: Merritt manufacturing needs to accumulate 15 million to

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