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You are wishing to accumulate $9,000 for an expedition in 4 years time. To do this, you will make 8 equal deposits (half yearly) with
You are wishing to accumulate $9,000 for an expedition in 4 years time. To do this, you will make 8 equal deposits (half yearly) with the first deposit today. If you earn 7.7% per annum compounding twice yearly, what deposit will be needed? (round to nearest cent; dont use $ sign or commas)
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