A parent wishes to develop an educational fund for a new born child's college education. The fund is to pay an equal withdrawal on the eighteenth, nineteenth and twentieth and twenty-first birthdays of the child. The fund will be built up by depositing P1,000.00 quarterly until the 17th birthday of the Child. Find the amount of money that the child can withdraw after the last deposit is made.

A parent wishes to develop an educational fund for a new born child's college education. The fund is to pay an equal withdrawal on the eighteenth, nineteenth and twentieth and twenty-first birthdays of the child. The fund will be built up by depositing P1,000.00 quarterly until the 17th birthday of the Child. Find the amount of money that the child can withdraw after the last deposit is made.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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