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A multinational company begins operations in a country with a developing economy. It will invest...

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Finance

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A multinational company begins operations in a country with a developing economy. It will invest $3,000,000 to begin operations and will pay operating costs $200,000 in year 1. Annual operating costs are expected to rise by 4% due to the growing strength of the country's currency. How much would the company need to set aside to cover the costs described above over the next 4 years assuming money was invested in an account that earned 6% annual interest? Click here to access the TVM Factor Table calculator. $ million

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