document.write( "Question 1163831: You want to start saving for your 10-year old son’s college education. If you wereguaranteed 6% interest compounded quarterly, how much would you have to save permonth to amount to P12,000 by the time he is 18?
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Algebra.Com's Answer #788053 by Theo(13342)\"\" \"About 
You can put this solution on YOUR website!
he's 10 years old now.
\n" ); document.write( "he will be 18 in 8 years.
\n" ); document.write( "the following financial calculator will help you determine your solution.
\n" ); document.write( "https://arachnoid.com/finance/index.html
\n" ); document.write( "your inputs will be:
\n" ); document.write( "present value = 0
\n" ); document.write( "future value = 12,000
\n" ); document.write( "interest rate per quarter = 6% per year / 4 = 1.5% per quarter.
\n" ); document.write( "number of quarters = 8 8 4 = 32
\n" ); document.write( "payments are made at the end of each quarter.
\n" ); document.write( "result of analysis using this calculator is that the quarterly payment needs to be 294.93.
\n" ); document.write( "it is shown as negative becauswe it's money you need to invest at the end of each quarter.
\n" ); document.write( "the future value is shown as positive because it's money you receive at the end of the investment period.
\n" ); document.write( "here's what the analysis looks like.\r
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