In the process of saving some money for my kids college I plan to make six annual
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In the process of saving some money for my kids college I plan to make six annual deposits of $4000 into a secret savings account that pays an interest of 4% compounded annually. Two years after making the last deposit the interestrate increases to 7% compounded annually. Twelve years after the last deposit, the accumulated money is taken out for the first time to pay for his tuition. How much is withdrawn?
Related Book For
Cost Management Accounting and Control
ISBN: 978-0324559675
6th Edition
Authors: Don R. Hansen, Maryanne M. Mowen, Liming Guan
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