Grandparents plan to open an account on their grandchild's birthday and contribute each month until she goes

Question:

Grandparents plan to open an account on their grandchild's birthday and contribute each month until she goes to college. How much must they contribute at the beginning of each month in an investment that pays 12%, compounded monthly, if they want the balance to be $180,000 at the end of 18 years?
(a) State whether the problem relates to an ordinary or an due, and then
(b) Solve the problem.
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...