Question: Please show the complete handwritten solution, Thank you. You wish to set up a special fund by making uniform semiannual end-of-period deposits for 20 years.

Please show the complete handwritten solution, Thank you.

You wish to set up a special fund by making uniform semiannual end-of-period deposits for 20 years. The fund is to provide P350,000 at the end of each of the last five years of the 20-year period. If interest is 10% compounded semiannually, what is the required semiannual deposit to be made?

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