In the process of saving some money for my kids college, I plan to make six annual
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In the process of saving some money for my kids college, I plan to make six annual deposits of \(\$ 4,000\) into a secret savings account that pays an interest of \(4 \%\) compounded annually. Two years after making the last deposit, the interest rate increases to \(7 \%\) compounded annually. Twelve years after the last deposit, the accumulated money is taken out for the first time to pay for his tuition. How much is withdrawn?
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Related Book For 
Project Management Systems Principles And Applications
ISBN: 272859
2nd Edition
Authors: Adedeji B. Badiru
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