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After her grandson's Robin's birth, Mrs. Devine made deposits of $250 into a trust fund...

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Question

Accounting

After her grandson's Robin's birth, Mrs. Devine made deposits of

$250

into a trust fund every

six months

until Robin was

twenty-one

years old. The trust fund provides for equal withdrawals at the end of each

six months

for

two

years. If interest is

6.01%

compounded

semi-annually,

how much will Robin receive every

six months?

Answer & Explanation Solved by verified expert
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