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should be answered in the format below Michael plans to retire in 15 years. When he does, he would like to withdraw $3,700 at the

should be answered in the format below
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image text in transcribed
Michael plans to retire in 15 years. When he does, he would like to withdraw $3,700 at the beginning of each quarter for 20 years after he retires. If interest is 4.75% compounded semi-annually, how much must he deposit at the end of each month for the 15 years leading up to his retirement? PMT Setting N I/Y P/Y C/Y PV PMT FV

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