How much do you need to deposit each year

Reference no: EM131965924

Question: You have decided that you want to have $125,000 for child's college education 21 years from now. Assume an interest rate is 15% per year for projection purposes. How much do you need to deposit each year if your first deposit is now and the last deposit is 18 years from now to achieve this goal. (All deposits are the same amount, do not use spreadsheet) Do not use single payment, use uniform payments.

Reference no: EM131965924

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