Calculate the maximum integral value of n

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A couple decides to save money for their child's first-year college tuition. The parents will deposit 3000 after n months from today and another 4000 after 2n months from today. All deposits earn interest at a nominal annual rate of 4.8%, compounded monthly.

Problem 1: Calculate the maximum integral value of n such that the parents will have accumulated at least 9000 after seven years from today.

Reference no: EM132640906

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