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1 . Recent sales of some real estate and record profits make it possible for a manufacturer to set aside $ 9 0 0 ,

1. Recent sales of some real estate and record profits make it possible for a manufacturer to set aside $900,000 in a fund to be used for modernization and remodeling. How much can be withdrawn from this fund at the beginning of each half-year for the next 4 years if the fund earns 7.6%, compounded semiannually?
2.A $4.8 million state lottery pays $20,000 at the beginning of each month for 20 years. How much money must the state actually have in hand to set up the payments for this prize if money is worth 7.7%, compounded monthly?
3. Juanita Domingo's parents want to establish a college trust for her. They want to make 16 quarterly withdrawals of $1500, with the first withdrawal 3 months from now. If money is worth 7.3%, compounded quarterly, how much must be deposited now to provide for this trust?

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