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You are planning to accumulate 14,000,000 to purchase a home in Tokyo in 8 years with Dia-Ichi Kangyo Bank. For the next 8 years, you

  1. You are planning to accumulate 14,000,000 to purchase a home in Tokyo in 8 years with Dia-Ichi Kangyo Bank. For the next 8 years, you earn an annual return of 12% compounded semiannually. How much should you deposit with Dia-Ichi Kangyo Bank every six months?

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