Mathematics, 12.03.2020 00:36 Jasten
Juanita Domingo's parents want to establish a college trust for her. They want to make 16 quarterly withdrawals of $2000, with the first withdrawal 3 months from now. If money is worth 6.7%, compounded quarterly, how much must be deposited now to provide for this trust?
Answers: 1
![OA=P[\frac{q^{n}-1}{q^{n}(q-1)}]](/tpl/images/0543/9173/66264.png)
![OA=P[\frac{q^{n}-1}{q^{n}(q-1)}]=2000\times\frac{(1.01675)^{16}-1}{(1.01675)^{16}[1.01675-1]}=2000\times\frac{0.30445}{0.0051}=119392.16](/tpl/images/0543/9173/709b2.png)
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