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The ABC Arena Company wishes to save money to replace the ice making equipment in 12 years. How much should be deposited every 6 months

The ABC Arena Company wishes to save money to replace the ice making equipment in 12 years. How much should be deposited every 6 months into an account that pays 9% per annum compounded semi-annually in order to have $120,000 for the replacement in 12 years?

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