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Company XYZ deposits $12,000 in a savings account. The money remains invested for 9 years and the interest is compounded quarterly at a rate of
Company XYZ deposits $12,000 in a savings account. The money remains invested for 9 years and the interest is compounded quarterly at a rate of 5%. Then it is withdrawn in equal semiannual payments over 6 years to pay for rent. The investment fund earns 5% interest compounded semiannually. How much can be withdraw from the account every six months for those six years?
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