Question: A contractor wishes to set up a special fund by making uniform semiannual end-of-period deposits for 20 years. The fund is to provide $10,000 at

A contractor wishes to set up a special fund by making uniform semiannual end-of-period deposits for 20 years. The fund is to provide $10,000 at the end of each of the last 5 years of the 20-year period is interest is 8%, compounded semiannually, what is the required semiannual deposit?

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