Question: III CONSUMER MATHEMATICS Finding the periodic payment needed to meet an investment goal Tom plans to set aside money for his young daughter's college tuition.
III CONSUMER MATHEMATICS Finding the periodic payment needed to meet an investment goal Tom plans to set aside money for his young daughter's college tuition. He will deposit money in an ordinary annuity that earns 2.4% interest, compounded quarterly. Deposits will be made at the end of each quarter. How much money does he need to deposit into the annuity each quarter for the annuity to have a total value of 573,000 after 15 years? Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas, sa X 5
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