Question: A perpetuity earning 5.50% compounded semi-annually is started with a $244,000.00 investment. How much money could be regularly withdrawn from the investment every 6 months?

A perpetuity earning 5.50% compounded semi-annually is started with a $244,000.00 investment. How much money could be regularly withdrawn from the investment every 6 months?

Round your answer to the nearest cent

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