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A couple is planning to finance its three-year-old son's university education. Money can be deposited at 9% compounded quarterly. What quarterly deposit must be
A couple is planning to finance its three-year-old son's university education. Money can be deposited at 9% compounded quarterly. What quarterly deposit must be made from the son's 3rd birthday to his 18th birthday to provide $10000 on each birthday from the 18th to the 21st? (Note that the first deposit is made three months after the 3rd birthday and the last deposit is made on the date of the first withdrawal.) (keep 2 decimal places) Answer:
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Human Resource Management
Authors: Robert L. Mathis, John H. Jackson
13th Edition
053845315X, 978-0538453158
