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The trustees of a college have accepted a gift of $300000, but are required to deposit in an account paying 8% per year, compounded semiannually.

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The trustees of a college have accepted a gift of $300000, but are required to deposit in an account paying 8% per year, compounded semiannually. They may make equal withdrawal at the end of each (Round your awwer to the nearest cent) . The amount of each withdrawal six-month period, but the money must last 5 years a. Find the amount of each withdrawal b. If the money must fast 7 years, the amount of each withdrawal is b. Find the amount of each withdrawal it the money must last 7 years (Round your answer to the nearest cant)

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