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Compute the equal semiannual amount that philip will receive

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Question

On January 1, 2019, Philip Holding invests $40,000 in an annuity to provide 8 equal semi-annual payments. Interest is 10%, compounded semiannually.

Round your answers to two decimal places.

Required:

Compute the equal semiannual amounts that Philip will receive assuming that the first withdrawal is to be received on:

1. July 1, 2019

2. January 1, 2019

3. July 1, 2022

4. January 1, 2024

Reference no: EM132380516

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