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20)The amount of $75 400.00 is invested at 9.65% compounded quarterly for 3 years. After 3 years the balance in the fund is converted into
20)The amount of $75 400.00 is invested at 9.65% compounded quarterly for 3 years. After 3 years the balance in the fund is converted into an annuity. If interest on the annuity is 6.75% compounded semi-annually and payments are made at the end of every 6 months for 8 years, what is the size of the payments? Question 20 options:
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