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4.2.6 Kayla receives a $6,000 high school graduation present which she puts in a savings account paying 4.15% annual interest, compounded monthly (see Exercise 4.2.5).

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4.2.6 Kayla receives a $6,000 high school graduation present which she puts in a savings account paying 4.15% annual interest, compounded monthly (see Exercise 4.2.5). She plans to work for two years before starting college, put her earnings in the account, and then live off the money in the account during college. Here are the details of her plan: She will deposit the same amount into the account at the end of each month for the two years she works (starting in month 1). . In month 25 she will stop making deposits and start withdrawing $1,000 each month for her first year in college. . During her second year she will withdraw $1,250 each month. During her third and fourth years she will withdraw $1,500 and $1,750 each month, respectively. Figure out how much she must deposit each month for the first two years so she has $0 left in the account at the end of her fourth year of college. Approximately how much total interest does she earn over the six years? 4.2.6 Kayla receives a $6,000 high school graduation present which she puts in a savings account paying 4.15% annual interest, compounded monthly (see Exercise 4.2.5). She plans to work for two years before starting college, put her earnings in the account, and then live off the money in the account during college. Here are the details of her plan: She will deposit the same amount into the account at the end of each month for the two years she works (starting in month 1). . In month 25 she will stop making deposits and start withdrawing $1,000 each month for her first year in college. . During her second year she will withdraw $1,250 each month. During her third and fourth years she will withdraw $1,500 and $1,750 each month, respectively. Figure out how much she must deposit each month for the first two years so she has $0 left in the account at the end of her fourth year of college. Approximately how much total interest does she earn over the six years

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