A father wants to set aside money for his 5-year-old son's future college education. Money can be deposited in a bank account that pays 8% per year, compounded annually. What equal deposits should be...


A father wants to set aside money for his 5-year-old son's future college education. Money can be deposited in a bank account that pays 8% per year, compounded annually. What equal deposits should be made by the father, on his son's 6th through 17th birthdays, in order to provide $5000 on the son's 18th, 19th, 20th, and 21st birthdays?



Jun 11, 2022
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