Interest earning account

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Your company is planning to retire a bond issue in 5 years. which will require $7.5 million dollars. if the company deposits $100,000 every month into an interest earning account, starting from today and at the beginning of everymonth, what APR, with quarterly compounding, must the account earn in order for the account to grow to $7.5 million at the end of the 5th year?

Reference no: EM133116724

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