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When Angelica turns 3 years old, her parents decide to create an investment fund to pay her College tuition. The withdrawal instructions are the following:
When Angelica turns 3 years old, her parents decide to create an investment fund to pay her College tuition. The withdrawal instructions are the following: $110,000 in her 18th birthday, $120,000 in her 19th birthday, $130,000 in her 20th birthday, $140,000 in her 21st birthday and finally $150,000 in her 22nd birthday. To achieve this, Angelica's parents decided to deposit an annual fixed amount of $20,000 every year on Angelicas 3rd,4th,5th,6th, 7th, 8th, 9 and 10th birthdays, the fund pays 6% per year. What should be the amount of every yearly fixed deposit for her 11th, 12th, 13th, 14th, 15th, 16th and 17th birthdays
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