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A couple just had a baby. How much should they invest now at 5 . 3 % compounded daily in order to have $ 4

A couple just had a baby. How much should they invest now at

5.3 %

compounded daily in order to have

40, 000

for the

child's education

17

years from

now? Compute the answer to the nearest dollar.

(

Assume a

365 -

day year.

)

Question content area bottom

Part

1

The couple should invest

$enter your response here now.

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