Question: You are planning to make two equal amount deposits, one now and the other 3 years from now in order to accumulate $300,000 ten years

You are planning to make two equal amount deposits, one now and the other 3 years from now in order to accumulate $300,000 ten years in the future. If the interest rate is 14% per year, compounded semiannually, the size of each deposit is:

(a) <$46,300

(b) $46,525

(d) >$48,200

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