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A wishes to accumulate exactly $15,000 in a fund that credits interest at a nominal annual rate of 6% compounded semiannually. A makes annual deposits
A wishes to accumulate exactly $15,000 in a fund that credits interest at a nominal annual rate of 6% compounded semiannually. A makes annual deposits of $1,000 at the beginning of each year into the fund, plus a final smaller deposit one year after the last $1,000 deposit. In which of the following ranges is the amount of the final deposit?
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