Question

Deshaun plans to set aside money for his young daughter's college tuition. He will deposit money in an ordinary annuity that earns 6.6% interest compounded quarterly. Deposits will be made at the end of each quarter. How much money does he need to deposit into the annuity each quarter for the annuity to have a total value of $72,000 after 15 years?

Answer 1

Hi I want to help u so

After performing the calculations, we find that Deshaun needs to deposit approximately $399.96 into the annuity each quarter for the annuity to have a total value of $72,000 after 15 years.

Explanation: