How much does joan have to place into an account

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Reference no: EM131334568

Joan Wallace, corporate finance specialist for Big Blazer Bumpers, is responsible for funding an account to cover anticipated future warranty costs.

Warranty costs are expected to be $5 million per year for three years, with the first costs expected to occur four years from today.

How much does Joan have to place into an account today earning 10 percent per year to cover these expenses?

Reference no: EM131334568

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