This the problem of present vlaue of annuity due
Present value of annuity due = P + P * (1 - (1 + r)^-(n-1))/r
P is periodic payment which is $600
r is interest rate = 3.5%/12 = .29167%
n = 12*6
Present value of annuity due = 600 + 600 * (1 - (1 + .0029167)^-(71))/.0029167
= 600 + 38428.01
= $39028.01
Thus Migule's father need to deposit $39028.01 in saving account.
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