Question: 16. [-12 Points] DETAILS HARMATHAP12 6.4.037. MY NOTES ASK YOUR TEACHER Juanita Domingo's parents want to establish a college trust for her. They want to

16. [-12 Points] DETAILS HARMATHAP12 6.4.037. MY NOTES ASK YOUR TEACHER

16. [-12 Points] DETAILS HARMATHAP12 6.4.037. MY NOTES ASK YOUR TEACHER Juanita Domingo's parents want to establish a college trust for her. They want to make 16 quarterly withdrawals of $1500, with the first withdrawal 3 months from now. If money is worth 7.1%, compounded quarterly, how much must be deposited now to provide for this trust? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity O annuity due (b) Solve the problem. (Round your answer to the nearest cent.) Viewing Saved Work Revert to Last Response

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