Question: Equivalence When PP < CP How much would your parents have to deposit each month into an account that grows at a rate of 9%

Equivalence When PP < CP

How much would your parents have to deposit each month into an account that grows at a rate of 9% per year compounded semi-annually if they want to have $78,000 at the end of year 4 to cover part of your college expenses? Assume no interperiod compounding.

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