When their grand daughter was born, the Lee's decided to set up a trust fund for her
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When their grand daughter was born, the Lee's decided to set up a trust fund for her which earns 4.00% compounded monthly . They started by depositing $100 exactly one month after their granddaughter was born. They continued to deposit $100 every month thereafter until the day of their granddaughter's 16th birthday. Following her 16th birthday, the grand daughter is to receive equal payments at the end of each quarter for six years at 3.89% compounded quarterly. How much will the Lee's grand daughter receive each quarter?
Related Book For
Human Resources In Healthcare Managing For Success
ISBN: 9781567932997
3rd Edition
Authors: Bruce Fried, Myron D. Fottler
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