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1. You will send your son to college 15 years from now. He will attend for four years (that is he will attend in years

1. You will send your son to college 15 years from now. He will attend for four years (that is he will attend in years 15, 16, 17 and 18). The cost of college each year will be $40,000. How much would you have to invest today to pay for his college if your investments earn 3% APR compounded annually?

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