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What uniform annual investment will he have

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Question: A man wants to help provide a college education for his young daughter. He can afford to invest $600/yr for the next 4 years, beginning on the girl's 4th birthday. He wishes to give his daughter $4000 on her 18th, 19th, 20th, and 21st birthdays, for a total of $16,000. Assuming 5% interest, what uniform annual investment will he have to make on the girl's 8th through 17th birthdays?

Reference no: EM132157782

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