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thomas is planning to withdraw $ 7 0 0 0 from a savings account at the end of each quater for 3 years. If the

thomas is planning to withdraw $

7000

from a savings account at the end of each quater for

3

years. If the payments are deferred for six years and interest is

5.90 %

compounded semianually, what amount has to be invested now into the savings account?

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