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27-02-2024
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Parents have set up a sinking fund in order to have 150,000 in 12 years for their children's college education. How much should be paid semiannually into an account paying 8.6% compounded semiannually?
A. m = 150, 000
B. m = 1
C. m = 0.086
D. m = 12
E. m = 24
F. There would be no m value used.
G. m = 8.6
H. m = 2

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