A mining company CEO wants to help provide college education for the daughter of a high performance underground worker. He can afford to invest $750/yr. for the next 4 years, beginning on the student’s fourth birthday. He wishes to give the future student $5,000 on her 18th, 19th, 20th, and 21st birthdays, for a total of $20,000. Assuming 6% interest, what uniform annual investment will he have to make on the girl’s 8th through 17th birthday? show all steps clearl

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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A mining company CEO wants to help provide college education for the daughter of a high performance underground worker. He can afford to invest $750/yr. for the next 4 years, beginning on the student’s fourth birthday. He wishes to give the future student $5,000 on her 18th, 19th, 20th, and 21st birthdays, for a total of $20,000. Assuming 6% interest, what uniform annual investment will he have to make on the girl’s 8th through 17th birthday? show all steps clearly

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