What will be the bi-annual deposit

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Reference no: EM13269352

In anticipation of paying $50,000 tuition for four years you plan on making deposits every other year on your childs birthday from the ages of one to 17. First tuitiion payment is on their 18th birthday. 10% expected rate of return.

1. What will be the bi-annual deposit?

2. Instead you intend on only making 3 deposits: on the child's 5th birthday, on the 11th and on the 15th. Each deposit is double the previous deposit. How much are the deposits?

Reference no: EM13269352

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