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On his 2 5 th birthday, Rowan receives an inheritance of $ 2 0 0 , 0 0 0 . He intends to use the

On his 25th birthday, Rowan receives an inheritance of $200,000. He intends to use the money to supplement his retirement with 15 years of semiannual payments, beginning on his 65th birthday. If money is worth 6.0% compounded semiannually, how much will each semiannual payment be?

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