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July Avenue, Inc. wants to have $5,000,000 in an account exactly 10 years from today. They will make equal monthly payments of $10,000 beginning next quarter and ending in 10 years. The account earns 8.00% p.a., compounded monthly. How much must July Avenue, Inc. have in its account today? Round answer to two decimal places

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July Avenue, Inc. wants to have $5,000,000 in an account exactly 10 years from today. They will make equal monthly

payments of $10,000 beginning next quarter and ending in 10 years. The account earns 8.00% p.a., compounded monthly. How much must July Avenue, Inc. have in its account today?

Round answer to two decimal places 

 
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