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A couple decides to save money for their childs first year college tuition. The parents will deposit 1700 n months from today and another 3400
A couple decides to save money for their childs first year college tuition. The parents will deposit 1700 n months from today and another 3400 2n months from today. All deposits earn interest at a nominal annual rate of 6%, compounded monthly. Calculate the maximum integral value of n such that the parents will have accumulated at least 6500 five years from today.
(A) 11 (B) 12 (C) 18 (D) 24 (E) 6
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