A married couple are trying to finance their four-year-old, Financial Management

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A married couple are trying to finance their four-year-old

A married couple are trying to finance their four-year-old son's college education. Money can be deposited at 7% compounded quarterly. What end-of-quarter deposit must be made from the son's 4th birthday to his 18th birthday to provide $45,000 on each birthday from the 18th to the 21st?

The amount of the quarterly deposits should be $. (Round to the nearest dollar.)

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Financial Management: A married couple are trying to finance their four-year-old

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Financial Management: A married couple are trying to finance their four-year-old

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