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How much money does hayao have to deposit into the account

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Hayao is an investor looking to set up a fund to supplement his income. This fund will make ten annual payments of $10,000, the first payment being 6 months from now. He has secured an account that will earn 6% p.a. compounding semi-annually.

Problem 1: How much money does Hayao have to deposit into the account today so that the account will be depleted after the final payment? (HINT: The first payment is not 1 year from today) Round your answer to the nearest whole number.

Reference no: EM132797356

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