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he semiannual tuition payment at a major university is expected to be $ 2 8 , 0 0 0 for the 4 years beginning 1
he semiannual tuition payment at a major university is expected to be $ for the years beginning years from now. What lump sum payment should the university accept now, in lieu of tuition payments beginning years, months from now? Assume that money is worth compounded semiannually, and that tuition is paid at the end of each halfyear for years.
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