A married couple are trying to finance their three-year-old son's college education. Money can be deposited at

Question:

A married couple are trying to finance their three-year-old son's college education. Money can be deposited at 6% compounded quarterly. What end-of-quarter deposit must be made from the son's 3rd birthday to his 18th birthday to provide $60,000 on each birthday from the 18th to the 21st?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: