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Question: A wealthy father whose daughter is just getting married wishes to set up a college education fund for his grandchildren-to-be which will pay $12,000 per year for 10 years commencing 20 years from today (10 payments with first payment at EOY 20). What annual deposit must be made starting with the first deposit today and continuing tor the next 19 years (20 deposits), if i = 10 percent'?

Basic Finance, Finance

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