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What size of the deposit Peter makes while he is saving

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Question - Peter makes a deposit at the end of every three months into a savings account that earns interest at 6.4% compounded semi-annually. He saves for 8 years, and then converts his savings into an annuity that pays him $440 at the beginning of each months for 6 years at the same interest rate. What size of the deposit Peter makes while he is saving?

Reference no: EM133144556

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