you intend to create a college fund for your baby. if you get an interest rate of 5.3% compounded monthly and want the fund to have $123,875 after 17 years, how much needs to be deposited each month?

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jessica used a fixed installment loan from bank. she borrowed $13,500 and has 60 monthly payments of $280.24. instead of making 36th payment she paid remaining balance on loan. what is total amount due to pay off balance? use actuarial method u=(n*p*v)/100+v