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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
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