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one thr day a baby is born a father decides to establish a savings fund, any money in the fund will earn interest at 8%
one thr day a baby is born a father decides to establish a savings fund, any money in the fund will earn interest at 8% compunded annually from the birthdays 1-18. so that the child can make four annual withdrawals from thr wccount in rhe amount of 30,000 on each birthday. assuming the first withdrawal will be made on the childs 18th birthday which of the followi equations is correctly used?
On the day his baby is born a father decides to establish a savings account for the child's college education Any money that is put into the account will be The father will make a series of annual deposits in equal amounts on each of his child's birthdays from the 1st rough the 189, so that the child can make amount of $30,000 on each birthday. Assuming that the first withdrawal will be made on the child's 18m birthday which of the following equations are corto A. A= $30,000[(P/F, 8%, 18) + (P/F 8% 19) + (PJF 8%, 20) + (P/F, 8% 21). (AP 8%.18) B. A = $30,000 (F/A, 8% 4) (P/F, 8% 21) (A/P 8%, 18) C. A = ($30,000 (P/A, 8% 3) . $30,000(AF 8%, 18) OD. A = $30,000 (P/A, 8%, 18) X (P/F, 8%, 21) (F/P.8% 21) (A/F, 8%, 4) E. A= ($30,000 x 4918 Step by Step Solution
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