Homework Answers
First we calculate the Present value of withdrawals at the end of year 7 or beginning of collecge education
Set BGN mode
FV=0
I/Y=7%
PMT=15000
N=4
CPT PV=54364.74
Now, we calculate the deposit required
FV=54364.74
I/Y=7%
N=7
PMT=0
CPT PV=33856
Option B
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