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4. DETAILS HARMATHAP12 6.2.011. MY NOTES ASK YOUR TEACHER What lump sum do parents need to deposit in an account earning 9%, compounded monthly, so

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4. DETAILS HARMATHAP12 6.2.011. MY NOTES ASK YOUR TEACHER What lump sum do parents need to deposit in an account earning 9%, compounded monthly, so that it will grow to $90,000 for their son's college fund in 15 years? (Round your answer to the nearest cent.) $ Show My Work (Optional)

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