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1. (3 Marks) What sum of money must be set aside at a child's birth to provide for 9 annual payments of $20,000 to pay

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1. (3 Marks) What sum of money must be set aside at a child's birth to provide for 9 annual payments of $20,000 to pay for the child's post-secondary education? The first payment comes on the child's 19th birthday. The interest rate is 6% compounded annually

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