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Q2: A father wants to save for his child's college expenses. The father opens an account with 7% annual interest. Assuming that the child enters college at age of 18 and the expenses of the college is $40,000 per year. The college is 4-year program. The father will make equal annual payments at the end of each year starting from the end of the birthing year until the age of 18. What will be the annual payment (deposit) that the father shall make? Support your answer by cash flow diagram. (

Q2: A father wants to save for his child's college expenses. The father opens an account with 7% annual interest. Assuming that the child enters college at age of 18 and the expenses of the college is $40,000 per year. The college is 4-year program. The father will make equal annual payments at the end of each year starting from the end of the birthing year until the age of 18. What will be the annual payment (deposit) that the father shall make? Support your answer by cash flow diagram. (

Structural Analysis
Structural Analysis
6th Edition
ISBN:9781337630931
Author:KASSIMALI, Aslam.
Publisher:KASSIMALI, Aslam.
Chapter2: Loads On Structures
Section: Chapter Questions
Problem 1P
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need to solve the question in handwriting Q2: A father wants to save for his child's college expenses. The father opens an account with 7% annual interest. Assuming that the child enters college at age of 18 and the expenses of the college is $40,000 per year. The college is 4-year program. The father will make equal annual payments at the end of each year starting from the end of the birthing year until the age of 18. What will be the annual payment (deposit) that the father shall make? Support your answer by cash flow diagram. (
Transcribed Image Text:need to solve the question in handwriting Q2: A father wants to save for his child's college expenses. The father opens an account with 7% annual interest. Assuming that the child enters college at age of 18 and the expenses of the college is $40,000 per year. The college is 4-year program. The father will make equal annual payments at the end of each year starting from the end of the birthing year until the age of 18. What will be the annual payment (deposit) that the father shall make? Support your answer by cash flow diagram. (
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