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[4 Marks] Question 2: Rahman's father is looking to deposit a sum of money immediately into an account that pays annual interest rate of 9%

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[4 Marks] Question 2: Rahman's father is looking to deposit a sum of money immediately into an account that pays annual interest rate of 9% so that his first-year college tuition costs are provided for. Currently, the average college tuition cost is $22,000 and is expected to increase by 2% every year. Rahman just turned 8 and is expected to start college when he turns 18. How much money will Rahman's dad have to deposit into the account? If Rahman's father decides to make a regular deposit at the end of every year for the next 10 years instead of depositing one time only, then how much money he has to deposit every year? [3 Marks]

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