What is the amount the grandfather needs to in the hank

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A grandfather decided to put some money in the bank for her granddaughter's education the day she was born. The interest in the bank is 6% per year. The grandfather expects her granddaughter to withdraw $20,000.00 each year on her 18th, 19^th, 20th and 21st birthday. What is the amount the grandfather needs to in the hank?

Reference no: EM131388828

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What is the amount the grandfather needs to in the hank : A grandfather decided to put some money in the bank for her granddaughter's education the day she was born. The interest in the bank is 6% per year. The grandfather expects her granddaughter to withdraw $20,000.00 each year on her 18th, 19^th, 20th a..

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