You want to make 3 equal deposits into an account paying 6.25 percent so that...
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You want to make 3 equal deposits into an account paying 6.25 percent so that your child can take out $12,500 per year for college expenses. Your deposits will be at t-1.t-2, and t-3. Your child will make withdrawals of $12,500 at t-5, t-6, 1-7, and t-8. Assume no inflation of college expenses. How much will you need to deposit each of the next 3 years? 0 1 2 3 7 $ 6 D D D w w W w $12,500 $12,500 $12,500 $12.500 O SI2.462 O $12,701 O $14,008 O $13.495 O 513,667 Search o SAMSUNG
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