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1. (Compounding) Anurag wants to earn $500,000 in 15 years by making equal semi-annual deposits. The bank will pay an interest of 10 percent annually.

1. (Compounding) Anurag wants to earn $500,000 in 15 years by making equal semi-annual deposits. The bank will pay an interest of 10 percent annually. What must Anurags semi-annual deposit be?

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