Mr. and Mrs. Templeton are setting up a fund to help finance their granddaughters college education. They
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Mr. and Mrs. Templeton are setting up a fund to help finance their granddaughter’s college education. They want her to be able to withdraw $3000 every three months for three years after she starts college. Her first withdrawal will be 5½ years from now. If the fund can earn 7.2% compounded quarterly, what single amount contributed today will provide for the withdrawals?
Related Book For
Personal Financial Planning
ISBN: 978-1111971632
13th edition
Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley
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