Mrs. Bell expects to retire in 7 years and would like to receive $800 at the end

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Mrs. Bell expects to retire in 7 years and would like to receive $800 at the end of each month for 10 years following the date of her retirement. How much must Mrs. Bell deposit today in an account paying 7.5% compounded semi-annually to receive the monthly payments?
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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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