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4. College Savings Plan. A couple wishes to invest money today for their son's college education when he turns 18. They expect a 4-year college
4. College Savings Plan. A couple wishes to invest money today for their son's college education when he turns 18. They expect a 4-year college degree to cost them 1 million pesos. Their son is only 2 years old today. What amount must they deposit in an account that pays 1.50% a year compounded quarterly in order to pay for their son's college education? A r n t P =
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