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QUESTION
Thomas is planning to withdraw $8000 from a savings account at the end of each quarter for 4 years. If the payments are deferred for 5 years and...
Thomas is planning to withdraw $8000 from a savings account at the end of each quarter for 4 years. If the payments are deferred for 5 years and interest is 5.34% compounded semi-annually, what amount has to be invested now into the savings account?
