1. Aunt May wants to set aside money for Peter Parker's future college education. Money can be deposited in bank account that pays 18% compounded annually. What equal deposits should be made by Aunt May on his nephew's 6th through 17th birthdays, in order to provide P15,000 on Peter Parker's 18, 19, 20 and 21 college.

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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1) Please provide a cash flow diagram in solving The problem
1. Aunt May wants to set aside money for Peter Parker's future college education. Money can
be deposited in bank account that pays 18% compounded annually. What equal deposits
should be made by Aunt May on his nephew's 6th through 17th birthdays, in order to provide
P15,000 on Peter Parker's 18, 19, 20 and 21 college.
Transcribed Image Text:1. Aunt May wants to set aside money for Peter Parker's future college education. Money can be deposited in bank account that pays 18% compounded annually. What equal deposits should be made by Aunt May on his nephew's 6th through 17th birthdays, in order to provide P15,000 on Peter Parker's 18, 19, 20 and 21 college.
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