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12. Present Value. You want to begin a college fund for your new born child; you hope to accumulate $300,000 within 21 years from now.

12. Present Value. You want to begin a college fund for your new born child; you hope to accumulate $300,000 within 21 years from now. If a current investment opportunity yields 9 % annually, how much must you invest in a lump sum to realize the 300,000 when needed?

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