Withdrawal occurs at end of six months after his retirement

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Sam musso is planning to retire in 15 years. he can deposit money at 8% compounded quarterly. What deposit must he make at the end of each quarter until he retires so that he can make a withdrawal of $45,000 semiannually over five years after his retirement? Assume that his first withdrawal occurs at the end of six months after his retirement.

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Reference no: EM13889116

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