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April 19, 2014

April 19, 2014

Posted by **kerry** on Monday, October 8, 2012 at 10:56pm.

Abigail just received an inheritance from her grandfather's estate. She will be entering college in 1 year and is expecting to need $3,000, $5,000, $4,000, and $4,500 respectively at the beginning of each of the 4 consecutive years at school.

If she can get GICs with 4% interest, compounding daily, what principal amount would Abigail need to invest from her inheritance to completely be self-sufficient during these school years? For full marks your answer(s) should be rounded to the nearest cent.

- college math -
**Anonymous**, Monday, October 8, 2012 at 11:28pm180.82

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