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How much money must Melinda Fischer have on deposit today at the McHenry Credit Union if she wants to be able to withdraw $4,500 at

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How much money must Melinda Fischer have on deposit today at the McHenry Credit Union if she wants to be able to withdraw $4,500 at the beginning of each six-month period (so payments and compounding occur semiannually) forever and she can earn an average return represented as a 3.8% annual percentage rate (APR)? [Preceding question 1 involved a perpetuity, or stream of unending payments, that will occur at the beginning of each annual period.] O A. $118,421.05 O B. $241,342.11 OC. $29,555.00 D. $245,842.11 O E. $236,842.11

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