Question 192808
Let x=amount for yr 1.
[x+1.04x+(1.04x+.04(1.04x)]/3=2400000
(x+1.04x+1.0816x)/3=2400000
3.1216x/3=2400000
3.1216x=7200000
x=2306509.48 year 1
1.04x=2398769.86 year 2
1.0816x=2494720.66 year 3
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Ed