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You have been accepted into college. The colege guarantees that your tuition wil not increase for the four years you attend college. The first $10,800
You have been accepted into college. The colege guarantees that your tuition wil not increase for the four years you attend college. The first $10,800 tuition payment is due in six months. After that, the same payment is due every six months until you have made a total of eight payments. The college offers a bank account tha! allows you to withdra money every s x months and has a ed APR o 3.9% with se annual compounding guaranteed to e ain the same o er the next f years. How much money must you deposit today if you intend to make no further depos ts and would like to make all the tuition payments from this account, leaving the account empty when the last payment is made? (Note: Bo caroful not to round any intemediato stops loss than six decimai places.) The amount of money you must deposit today is (Round to the nearest cent.)
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