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A company is in need of $300,000 in 5 years. In order to achieve this goal it establishes a sinking fund by making equal semiannual

A company is in need of $300,000 in 5 years. In order to achieve this goal it establishes a sinking fund by making equal semiannual deposits, the first due in 6 months. If the deposits are placed in an account that pays 5%, compounded semiannually, what is the size of the deposits?

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