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Three-year-old sons college education

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A couple is planning to finance its three-year-old son's college education. Money can be deposited at 6% compounded monthly. What quarterly deposit must be made from the son's 3rd birthday to his 18th birthday to provide $50,000 on each birthday from the 18th to 21st? (Note that the last deposit is made on the date of the first withdrawal)

Reference no: EM131220187

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