Question: A man decides to deposit $50 in the bank today and to make 10 additional deposits every 6 months beginning 6 months from now, the

A man decides to deposit $50 in the bank today and to make 10 additional deposits every 6 months beginning 6 months from now, the first of which will be $50 and increasing $10 per deposit after that. A few minutes after making the last deposit, he decides to withdraw all the money deposited. If the bank pays 6% nominal interest compounded semiannually, how much money will he receive?

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