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Gabriel Martinez estimates that his daughter's college needs, beginning in 9 years, will be $ 3 6 0 0 at the end of each quarter
Gabriel Martinez estimates that his daughter's college needs, beginning in years, will be $ at the end of each quarter for years. Assume that the investment account earns compounded quarterly.
Draw a time diagram for this problem that includes i all payment dates, ii all payment amounts, and iii how the payments are being "moved" throughout time
Determine how much money will need to be in the account in years to fund the annuity $
Determine how much money would need to be invested today so that the correct amount of money will be in the account in years $
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