Question: NYC Equity Partners plans to accumulate $46,275,255 towards structuring a real estate investment trust by depositing $1,500,000 at the end of each year with JPMorgan.

NYC Equity Partners plans to accumulate $46,275,255 towards structuring a real estate investment trust by depositing $1,500,000 at the end of each year with JPMorgan. If Chicago Equity Partners earns 16% compounded annually on the deposited funds, how many deposits must it make?

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