A father wants to save equal amounts at the beginning of every month for the next 6

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A father wants to save equal amounts at the beginning of every month for the next 6 years so that his son will be able to withdraw $1500 per month for 4 years for his university education. If the first withdrawal is 11 years from now, how much must the father set aside every month if money earns an average of 4% compounded monthly?

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Mathematics Of Business And Finance

ISBN: 9781927737545

4th Edition

Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans

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