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You MUST use the TI BA II calculator features ( N , I / Y , PV , PMT , FV ) to solve questions.

You MUST use the TI BA II calculator features (N, I/Y, PV, PMT, FV) to solve questions. Jean-Rene wants to make a lump-sum deposit today such that at the end of every three months for the next five years he can receive a payment starting at $2,500 and increasing by 1% each time thereafter. At the end of the term, an additional lump-sum payment of $10,000 is required. If the annuity can earn 8.75% compounded semi-annually, what lump sum should he deposit today?

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