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$10 000 is deposited into a prize fund. Prizes of $X will be made from the fund each half-year in perpetuity, commencing in 2 years.

$10 000 is deposited into a prize fund. Prizes of $X will be made from the fund each half-year in perpetuity, commencing in 2 years. Calculate X if interest is at j2 = 6% p.a. Answer this question by, first, drawing a cash flow diagram, then writing down the equation of value, and then solving it

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