Question: When his daughter was born, Mr. Dodd started depositing $200 every three months into a trust fund earning 3% compounded quarterly. Following her 18th birthday,

When his daughter was born, Mr. Dodd started depositing $200 every three months into a trust fund earning 3% compounded quarterly. Following her 18th birthday, Mr. Dodd’s daughter is to receive equal payments at the end of each month for four years while she is at university. If interest is to be 3.9% compounded monthly after the daughter’s 18th birthday, how much will she receive every month?

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