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A couple just had a baby. How much should they invest now at 5.4 % compounded daily in order to have $ 40,000 for thechild's
A couple just had a baby. How much should they invest now at 5.4% compounded daily in order to have $40,000 for thechild's education 18 years fromnow? Compute the answer to the nearest dollar.(Assume a365-day year.)
The couple should invest $______now.
(Round to the nearest dollar asneeded.)
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