Calculate the amount of semi-annual deposit, Managerial Accounting

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Calculate the amount of semi-annual deposit

Response to the following problem:

ABC Company wants to have $31,672 in four years. The company intends to accumulate that amount by making equal semi-annual cash deposits at the end of every six months for four years into a bank account that pays 12% interest compounded semi-annually.

Calculate the amount of each semi-annual deposit.

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Managerial Accounting: Calculate the amount of semi-annual deposit

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