After selling their Vancouver home and buying another in Saskatoon, the Martels have $120,000 cash on hand.
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After selling their Vancouver home and buying another in Saskatoon, the Martels have $120,000 cash on hand. If the funds are used to purchase a deferred annuity providing a rate of return of 7.25% compounded annually, what payments will they receive at the end of every six months for a 25-year term starting eight years from now?
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