Question

You
have been accepted into college. The college guarantees that your
tuition will not increase for the four years you attend college.
The first $10,000 tuition payment is due in six months. After that,
the same payment is due every six months until you have made a
total of eight payments. The college offers a bank account that
allows you to withdraw money every six months and has a fixed APR
of 3.9% (with semiannual compounding) guaranteed to remain the same
over the next four years. How much money must you deposit today if
you intend to make no further deposits and would like to make all
the tuition payments from this account, leaving the account empty
when the last payment is made? (Note: Be careful not to round any
intermediate steps less than six decimal places.) The amount of
money you must deposit today is $ (Round to the nearest
cent.)

Answer #1

**Answer:
$8877.115860**

You have been accepted into college. The college guarantees that
your tuition will not increase for the four years you attend
college. The first $ 10 comma 800 tuition payment is due in six
months. After that, the same payment is due every six months until
you have made a total of eight payments. The college offers a bank
account that allows you to withdraw money every six months and has
a fixed APR of 4.5 % (with semiannual compounding)...

You are saving for your child’s college education. Tuition will
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A father is now planning a savings program to put his daughter
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