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Starting a month after her granddaughter Jenny's birth, Mrs. Wong made deposits of $75 into a trust fund every month until Jenny turned eighteen years old. This is for Jenny’s future education. The trust fund provides for equal withdrawals at the end of each quarter for four years. The first withdrawal starts three months after the last deposit into the trust fund. If the trust fund pays 6.38% interest compounded monthly, how much will Jenny receive every three months for her education?
Sagot :
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