Determine first withdrawal occurs at the end of six months

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Cory Manciagli is planning to retire in 20 years. Money can be deposited at 6% compounded quarterly. What quarterly deposit must be made at the end of each quarter until Corey retires so that he can make a withdrawal of $40,000 semiannually over the first 10 years of his retirement? Assume that his first withdrawal occurs at the end of six months after his retirement.

Reference no: EM13191762

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