A boy is celebrating his 16th birthday and we lead 3000 on 17th 18th 19th and 20th birthday for his college education his father needs to lay aside a certain amount now each year thereafter until the boy 20 years old however the contribution will form an automatic progression for all years increasing by 20% after the first year if money is worth 4% per year what is the father's first first contribution dance
A boy is celebrating his 16th birthday and we lead 3000 on 17th 18th 19th and 20th birthday for his college education his father needs to lay aside a certain amount now each year thereafter until the boy 20 years old however the contribution will form an automatic progression for all years increasing by 20% after the first year if money is worth 4% per year what is the father's first first contribution dance
Chapter13: Investment Fundamentals
Section: Chapter Questions
Problem 2DTM
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![A boy is celebrating his 16th birthday and we lead 3000 on 17th 18th 19th and 20th birthday for his college education
his father needs to lay aside a certain amount now each year thereafter until the boy 20 years old however the
contribution will form an automatic progression for all years increasing by 20% after the first year if money is worth 4%
per year what is the father's first first contribution dance](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1a1a469d-0d3d-4434-a380-e7eea9db0da1%2F352c8592-fb7e-4b20-8059-74cbd920d66d%2Fcech2i4_processed.png&w=3840&q=75)
Transcribed Image Text:A boy is celebrating his 16th birthday and we lead 3000 on 17th 18th 19th and 20th birthday for his college education
his father needs to lay aside a certain amount now each year thereafter until the boy 20 years old however the
contribution will form an automatic progression for all years increasing by 20% after the first year if money is worth 4%
per year what is the father's first first contribution dance
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