To help pay for Wally's estimated $25,000 in college expenses, Brandon and Trevor make a deposit into a college fund at the

Question

To help pay for Wally's estimated $25,000 in college expenses, Brandon and Trevor make a deposit into a college fund at the beginning of each half-year over the course of 17 years. If this fund earns 6% interest, compounded semiannually, how large must these deposits be in order to pay for the estimated expenses? Round your answer to the nearest cent.

Kunduz · Accepted Answer

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