How much money would a firm have to deposit at end of year

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How much money would a firm have to deposit at the end of year zero in an account paying a nominal 6% a year compounded monthly in order to be able to make 4 semiannual payments of $2000 each with the first occurring at the end of month 9 [the payments would occur at the ends of months 9, 15, 21, 27]?

Reference no: EM131318783

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