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Mathematics, 06.06.2021 17:10 danielroytman1
John finances his daughter's college education by making deposits into a fund earning interest at an annual effective rate of 8%. For 18 years he deposits X at the beginning of each month. In the 16th through the 19th years, he makes a withdrawal of 25,000 at the beginning of each year. The final withdrawal reduces the fund balance to zero. Calculate X.
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