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In order to accumulate $20,000 at the end of six years for a down payment on a house, a couple makes equal deposits at the

In order to accumulate $20,000 at the end of six years for a down payment on a house, a couple makes equal deposits at the beginning of each quarter into an account which pays 5.5% interest compounded yearly. If simple interest is paid for part of a period, find the size of each deposit. ($701.77) Cannot use Excel.

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