Starting three months after her grandson Robins birth, Mrs. Devine made deposits of $60 into a trust
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Starting three months after her grandson Robin’s birth, Mrs. Devine made deposits of $60 into a trust fund every three months until Robin was 21 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 4.75% compounded quarterly, how much will Robin receive every three months?
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Related Book For
Contemporary Business Mathematics With Canadian Applications
ISBN: 9780135285015
12th Edition
Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday
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