A father has saved money in a fund to finance his son's 4-year university program. The fund pays out 300$ every month at the beginning of each month for 8 months (September through April) plus an extra 2.000$ each September 1st for 4 years. At j4 = 8%, what is the value of the fund on the first day of university, before any withdrawals?

A father has saved money in a fund to finance his son's 4-year university program. The fund pays out 300$ every month at the beginning of each month for 8 months (September through April) plus an extra 2.000$ each September 1st for 4 years. At j4 = 8%, what is the value of the fund on the first day of university, before any withdrawals?

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 52P

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