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12- Su ppose you need $10,000 each year for the next three years to make your tuition payments. ssume you need the first $10,000 in
12- Su ppose you need $10,000 each year for the next three years to make your tuition payments. ssume you need the first $10,000 in exactly one year. Suppose you can place your money in a savings account with interest rate of 8% compounded semi-annually. How much do you need to have in the account today? (Use PV of Annuity)
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