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Starting three months after her grandson Robin's birth, Mrs. Devine made deposits of $85 into a trust fund every three months until Robin was eighteen
Starting
three months
after her grandson Robin's birth, Mrs. Devine made deposits of
$85
into a trust fund every
three months
until Robin was
eighteen
years old. The trust fund provides for equal withdrawals at the end of each
quarter
for
four
years, beginning
three months
after the last deposit. If interest is
5.78%
compounded
quarterly,
how much will Robin receive every
three months?
Robin will receive
$nothing.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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