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When his daughter was born Mr Dodd started depositing $200 every three months into a trust fund earning 3% compounded quarterly Following her 18th birthday Mr Dodd’s daughter

When his daughter was born, Mr. Dodd started depositing $200 every three months into a trust fund earning 3% compounded quarterly. Following her 18th birthday, Mr. Dodd’s daughter is to receive equal payments at the end of each month for four years while she is at university. If interest is to be 3.9% compounded monthly after the daughter’s 18th birthday, how much will she receive every month?

May 22 2020 View more View Less

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