3. Suppose instead of depositing the necessary money needed today your aunt and uncle decide to wait until her birthday to make the deposit into the savings account. How much must they deposit at her 15 ^ (th) birthday to ensure there is 10,000 into the account on her 18 ^ (th) birthday? Assume that the account still promises to pay 4% per year

Answer rating: 100% (QA)

Here We have to find the present value of the sum that is to b... View the full answer