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Problem 1 When Fatima turned 21 years old, she started working for a company that produces hair growing helmets. While working for the company, she

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Problem 1 When Fatima turned 21 years old, she started working for a company that produces hair growing helmets. While working for the company, she contributed $1,165 at the end of every half year into a savings account that earned 2.65 % interest compounded semiannually for 32 years. At the end of the 32nd year of working for the company, the company went bankrupt as too many customers went permanently bald, Fatima decided to follow her passion and found a job as a snake milker. Unfortunately, Fatima's new job didn't pay as well as the previous job did, so she stopped contributing money into the account. o Question: If Fatima retires at the age of 65 and starts pulling money out of the account, then how much money can she withdraw at the end of every half year so that the account will last her until she turns 76 years old? Use the appropriate formula(s) to solve this problem. Do NOT use the TVM Solver. Show your work. You should need to do three separate calculations to complete this problem. Your final answer should be in the form of a sentence. (15 points)

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