Question: A man wants to help provide a college education for his young daughter. He can afford to invest $600/yr for the next 4 years, beginning

A man wants to help provide a college education for his young daughter. He can afford to invest $600/yr for the next 4 years, beginning on the girl's fourth birthday. He wishes to give his daughter $4000 on her 18th, 19th, 20th, and 2Pt birthdays, for a total of $16,000. Assuming 5% interest, what uniform annual investment will he have to make on the girl's 8th through 17th birthdays?

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To have sufficient money to pay the four 4000 disbursements x 4000 PA 5 4 4000 3546 14184 T... View full answer

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