On December 31,2024, parents decide to accumulate $60,000 to be used for their childs college...
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Accounting
On December parents decide to accumulate $ to be used for their childs college education. The parents would like to have the amount available on December Assume that the funds will accumulate in an account paying interest compounded annually.
Answer each of the following independent questions.
Required:
If they were to deposit a single amount, how much would they have to invest on December
If they were to make five equal deposits on each December beginning on December what is the required amount of each deposit?
If they were to make five equal deposits on each December beginning on December what is the required amount of each deposit?
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