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The trustees of a college have accepted a gift of $475000, but are required to deposit it in an account paying 8% per year, compounded

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The trustees of a college have accepted a gift of $475000, but are required to deposit it in an account paying 8% per year, compounded semiannually. They may make equal withdrawals at the end of each six-month period, but the money must last 6 years. a. Find the amount of each withdrawal. b. Find the amount of each withdrawal if the money must last 8 years

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