question archive What amount must be set aside on a boy's seventh birthday, which will provide 24 quarterly payments of ?3,500
What amount must be set aside on a boy's seventh birthday, which will provide 24 quarterly payments of ?3,500
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What amount must be set aside on a boy's seventh birthday, which will provide 24 quarterly payments of ?3,500.00 for school expenses, if the first payment is to be made on his 16th birthday? Assume that money is 10% compounded quarterly?
· ?113,221.63
· ?64,162.39
· ?26,376.75
· ?62,597.45
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