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Question 5 - The Town of Grand Falls Windsor plans to create a sinking fund of $50,000 by making equal deposits at the end of
Question 5 - The Town of Grand Falls Windsor plans to create a sinking fund of $50,000 by making equal deposits at the end of every six months for four years. Interest is 3% compounded semi-annually. What is the size of the semi-annual deposit into the fund?
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