What equal amount can your child withdraw each quarter

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Reference no: EM131984750

Show work and formula! You setup a college fund for your child with $200,000 Assume the money earns an annual rate of 4.8% compounded quarterly. Your child will make quarterly withdrawals from the fund over a 5 year period.

What equal amount can your child withdraw each quarter so that the balance is reduced to zero at the end of the 5 year period.

Reference no: EM131984750

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