Question: The multi-media department has set up a fund to replace musical instruments as they become obsolete. If $1,500 is deposited at the end of each

The multi-media department has set up a fund to replace musical instruments as they become obsolete. If $1,500 is deposited at the end of each month in a mutual fund that pays 12.5%, compounded semi-annually, how much will be available for the replacement after 12 years?

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