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27. ( 10 point) Congratulations! You have a new baby. You want to save for your child college tuition 18 years from now. As a
27. ( 10 point) Congratulations! You have a new baby. You want to save for your child college tuition 18 years from now. As a responsible parent, you deposited your first $100 at Vanguard today and decide to continue to do so every month until your kid enters college. Assume you can earn 6% APR. How much will you have saved up when your kid is 18 years old? (Please use a TVM formula)
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