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A couple wants to begin saving money for their child's education. They estimate that $ 1 0 , 0 0 0 will be needed on

A couple wants to begin saving money for their child's education. They estimate that $10,000 will be needed on the child's 18th birthday, $12,000 on the 19th birthday, $14,000 on the 20 th birthday, and $16,000 on the 21 st birthday. Assume an 8% interest rate with only annual compounding. What uniform annual amount would the couple have to deposit each year on the child's first (note: a child's "first birthday" is celebrated one year after the child is born) through seventeenth birthdays to accumulate enough money to cover the estimated college expenses? You must draw the cash flow diagram.
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