To save for future development, a company makes a deposit into a fund that earns interest at

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To save for future development, a company makes a deposit into a fund that earns interest at 4.44% compounded semi-annually. If the balance after 8 years needs to be $800 000, how much must be deposited at the end of each year?
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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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