Problem
A contractor wishes to set up a special fund by making uniform semiannual end-of-period deposits for 20 years. The fund is to provide $10,000 at the end of each of the last 5 years of the 20-year period. If interest is 8%, compounded semiannually, what is the required semiannual deposit?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.