A mechanical engineer who is anticipating paying for his daughters college education plans to start depositing money

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A mechanical engineer who is anticipating paying for his daughter’s college education plans to start depositing money now (year 0) and continue through year 17. If he deposits $5000 each year, how much will his daughter be able to withdraw each year starting in year 18 and continuing through year 22? Assume the account earns interest at 8% per year.

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Basics Of Engineering Economy

ISBN: 9780073376356

2nd Edition

Authors: Leland T. Blank, Anthony Tarquin

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