Calculate the annual deposit

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Reference no: EM131955785

Question: Your child was just born and you are planning for his/her college education. You anticipate the annual tuition at that time to be 50,000 per year for the four years of college. You plan on making equal deposits on your child's birthdays for the age 1-17 inclusive to fund their education. Assume the first tuition payment is due exactly 18 years from today and the expected return is 10% APR with quarterly compounding over this period. Calculate the annual deposit. Show your work please

Reference no: EM131955785

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