Question
Beginning three months from now, you want to be able to withdraw $1,500 each quarter from your bank account to cover college expenses over the
Beginning three months from now, you want to be able to withdraw $1,500 each quarter from your bank account to cover college expenses over the next 4 years. The account pays 0.8 percent interest per quarter. How much do you need to have in your account today to meet your expense needs over the next 4 years?
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Introduction to Finance Markets, Investments and Financial Management
Authors: Ronald W. Melicher, Edgar A. Norton
16th edition
1119398282, 978-1-119-3211, 1119321115, 978-1119398288
