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Murljashka [212]
3 years ago
15

Suppose that a family wants to start a college fund for their child. If you invest in an account that pays 5.5% and want the fun

d to have a value of $53,000 after 18 years, how much should you deposit monthly? Assume an annuity due.
Mathematics
1 answer:
vazorg [7]3 years ago
7 0
The answer is 17040.34
Check the annuity due formula
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  see attached

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