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What is the amount of the semi-annual

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Reference no: EM131647748

Suppose the stated annual interest rate is 5%/year, compounded semi-annually. You put $100 in your bank account today and plan to withdraw a fixed amount from it every six months forever, with the first withdrawal starting at 10 years from today. What is the amount of the semi-annual withdrawal that you can afford?

Reference no: EM131647748

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