Peter makes a deposit at the end of every three months into a savings account that earns
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Peter makes a deposit at the end of every three months into a savings account that earns interest at 3.3% compounded semi-annually. He saves for 13.5 years, and then converts his savings into an annuity that pays him $3,100 at 4.4% compounded monthly at the end of every six months for 11.5 years. What size of the deposit Peter makes while he is saving?
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