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4-104. You set up a trust fund for your 8-year-old child, which is to pay out $10,000 when she turns 18. You make quarterly payments
4-104. You set up a trust fund for your 8-year-old child, which is to pay out $10,000 when she turns 18. You make quarterly payments into this account for the next 10 years, which accumulate interest at a nominal rate of 16% per year, compounded quarterly. Calculate the size of each quarterly payment over the next 10 years
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