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(1 point) A college education fund is to be accumulated by twenty level semi-annual deposits, the first due on Juanary 1, 1996. The fund is

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(1 point) A college education fund is to be accumulated by twenty level semi-annual deposits, the first due on Juanary 1, 1996. The fund is to provide 16 quarterly withdrawals of $2000 each, the first due on October 1, 2005. Interest is compounded semiannually at an annual rate of 6 %. What is the amount of each semi-annual deposit? Amount of each semi-annual deposit $

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