Lucy and Fred want to begin saving for their baby's college education. They estimate that they will
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Question:
Lucy and Fred want to begin saving for their baby's college education. They estimate that they will need $200000 in eighteen years. If they are able to earn 6% per annum, how much must be deposited at the beginning of each of the next eighteen years to fund the education?
- a. $5924
- b. $6470
- c. $11110
- d. $6105
Related Book For
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
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