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Ralph wants to withdraw $925 at the beginning of each quarter for 12 years. If the withdrawals are to begin 10 years from now and

Ralph wants to withdraw $925 at the beginning of each quarter for 12 years. If the withdrawals are to begin 10 years from now and interest is 4.50% compounded monthly, how much must Ralph invest today to be able to make the withdrawals? ( 3 Marks)

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