Pats parents decide to set up a college fund on his 10th, Ask an Expert

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Pat's parents decide to set up a college fund on his 10th birthday. They would like for the fund to be worth $45921 on his 18th birthday. They make semi-annual payments into an account earning interest at an annual rate of 4.8%, compounded semi-annually. Find the size of the semi-annual payments required in order for the parents to have saved the desired amount by Pat's 18th birthday.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92412627

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