Question: Show step-by-step (manual) solution: A couple plans to make a one-time investment for their child's college education. How much must be deposited by the parents

Show step-by-step (manual) solution:

A couple plans to make a one-time investment for their child's college education. How much must be deposited by the parents when their child turns 7 in order to have 1,000,000 pesos when the child reaches the age of 18? Assume the money earnes 9% interest, compounded quarterly?

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