You won a contest. Your prize will be paid in two installments. You will receive the first payment, of $5,000, today and the second payment, of $8,000 at the end of year 6. You will deposit this money, at the time each is received (now and at the end of year 6), into a savings account that will earn 10% interest. If you want to withdraw some amount "C" at the end of each year for the first six years and then "C+$500" each year for the next six years (i.e. years 7-12), find the value of C so that the total amount withdrawn equals the total amount deposited.
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