Caterpillar USA needs to accumulate $7.5 million to retire a bond issue that matures in 5 years. The firm's manufacturing division can contribute $150,000 per quarter for the next 5 years to an account that will pay 2% quarterly. How much will the remaining Caterpillar divisions have to contribute every month to a second account that pays 0.5% per month in order to reach the $7.5 million goal in 5 years?

Answer rating: 100% (QA)

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