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20 June, 14:54

You would like to have $4000 in four years for a special vacation following graduation by making deposits at the end of every 6 months in an annuity that pays 7% compounded semiannually. How much should you deposit at the end of every six months? How much of the $4000 comes from deposits and how much from interest?

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  1. 20 June, 15:53
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    140 should be your answer
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