Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)
Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)
5th Edition
ISBN: 9781305084766
Author: Saeed Moaveni
Publisher: Cengage Learning
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Chapter 20, Problem 3P
To determine

Find the amount that needs to be deposited in a bank.

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How much money do you need to ask from your grandparents at the start of your college career if tuition is $40,000 per year. Assume tuition payments are at the start of the year and you are attending a 4 year institution. Use an interest rate of 8%. Draw a cash flow diagram.
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