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Section 13.3 18. Thomas is planning to withdraw $8000 from a savings account at the end of each quarter for four years. If the payments

Section 13.3

18. Thomas is planning to withdraw $8000 from a savings account at the end of each quarter for four years. If the payments are deferred for five years and interest is 5.34% compounded semi-annually, what amount has to be invested now into the savings account?

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