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show all steps B) Pinky's father is planning to admit her in a reputed university 5 years from now. Pinky is currently 15 years old;
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B) Pinky's father is planning to admit her in a reputed university 5 years from now. Pinky is currently 15 years old; she will enroll in a university 5 years later and should graduate within 4 years. They are anticipating after 5 years the annual cost (for everything tuition fee, books) will be BDT 1, 40,000 but this cost is expected to increase by 4% annually. Universities accept the total payment in advance at the beginning of the year. Pinky currently has a saving account with BDT 100,000 in it which pays 9% interest annually. Her father is planning to make five equal annual deposit to her account; The first deposit will be made today. How large each of the annual deposit should beStep by Step Solution
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