Martha has determined that she will need to have saved $40,000, in 10 years, for her daughters
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Martha has determined that she will need to have saved $40,000, in 10 years, for her daughter’s university education. She plans to make equal bi-weekly payments into a savings account for the first 3 years then leave this sum in the savings account to accumulate interest over the next 7 years. Assume her savings account can earn 7.8% interest compounded biweekly. How much must her bi-weekly payments be?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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