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A sinking fund is established to discharge a debt of $ 5 0 , 0 0 0 in 1 0 years. If deposits are made

A sinking fund is established to discharge a debt of $

50, 000

10

years. If deposits are made at the end of each

6 -

month period and interest is paid at the rate of

5 %,

compounded semiannually, what is the amount of each deposit?

(

Round your answer to the nearest cent.

)

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