Business, 19.11.2019 02:31 damientran

Nancy just had a new baby boy and plans to send him to college 19 years from now. she wants to deposit each winter in an education account which pays 10% (compounded annually) so that her boy will have enough money set aside that he can take out $20,000 at the beginning of each year to pay tuition, room and board, etc., for each of his four-year education. how much will nancy need to deposit at the end of each year in order to meet the goal? (note: there will be 19 total deposits and the first deposit will be made in one year. also, the last deposit will be made the day before the first withdrawal.)

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Nancy just had a new baby boy and plans to send him to college 19 years from now. she wants to depos...

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