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QUESTION 9 Sponge Bob intends to retire in 15 years and would like to receive $1.949 every six months for ten years starting on the

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QUESTION 9 Sponge Bob intends to retire in 15 years and would like to receive $1.949 every six months for ten years starting on the date of his retirement. How much must Sponge Bob deposit in an account today if interest is 6,2546 compounded semi-annually? (Hint: draw a timeline). Round final answer to the nearest cent

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