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George invests in a retirement plan in which equal payments of 2750 are made at the end of each year. Interest is earned on each payment at a rate of 3 % per year, compounded semi-annually.
1.Find the value of the investment after 20 years.
Hence the value of the investment after 20 years is .
2.Find the amount of interest George will earn on the investment over 20 years.
The amount of interest earned on the investment over 20 years is .
