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A CS Plan is a college savings plan that allows relatives to invest money to pay for a child's future college tuition; the account grows

A CS Plan is a college savings plan that allows relatives to invest money to pay for a child's future college tuition; the account grows tax-free. Bob wants to set up a CS Plan account for his new granddaughter and wants the account to grow to $40,000 over 18 years. Ile believes the account will earn 6% compounded semi-annually (twice a year). To the nearest dollar. how much will Bob need to invest in the account now?

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