What end-of-quarter deposit must be made

Reference no: EM13208744

a married couple are trying to finance their 3 year old son's college education. Money can be deposited at 6% compounded quarterly. What end-of-quarter deposit must be made from the son's third birthday to his 18th birthday to provide $60,000 on each birthday from the 18th to the 21st? (note that the first deposit comes 3 months after his third birthday and the last deposit is made on the date of the first withdrawal.)

Reference no: EM13208744

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