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How much must the parents deposit each quarter

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Question - Parents would like to start a college fund for their children. They believe that they will need to have $200,000 in 10 years. They plan to make quarterly deposits into the college fund and their financial planner feels that the money can be invested at 8% compounded quarterly.

a) How much must the parents deposit each quarter?

b) How much will they be able to take out from the college fund semi-annually over 4 years to pay the tuition?

c) What will be the total interest earned over the 14 years?

Reference no: EM132957483

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