Starting three months after her grandson Robin's birth, Mrs. Devine made deposits of $95 into a trust fund every three months until Robin was twenty dash one years old. The trust fund provides for equal withdrawals at the end of each quarter for five years, beginning three months after the last deposit. If interest is 5.37% compounded quarterly, how much will Robin receive every three months?
Starting three months after her grandson Robin's birth, Mrs. Devine made deposits of $95 into a trust fund every three months until Robin was twenty dash one years old. The trust fund provides for equal withdrawals at the end of each quarter for five years, beginning three months after the last deposit. If interest is 5.37% compounded quarterly, how much will Robin receive every three months?
Chapter19: Family Tax Planning
Section: Chapter Questions
Problem 27P
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Starting three months after her grandson Robin's birth, Mrs. Devine made deposits of $95 into a trust fund every three months until Robin was twenty dash one years old. The trust fund provides for equal withdrawals at the end of each quarter for five years, beginning three months after the last deposit. If interest is 5.37% compounded quarterly, how much will Robin receive every three months?
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