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A family wishes to accumulate $ 5 0 , 0 0 0 in a college education fund by the end of 2 0 years. They

A family wishes to accumulate $50,000 in a college education fund by the end of 20 years. They do this by depositing $1000 into the fund at the end of each of the first 10 years, and $1000+ x at the end of each of the second 10 years, compute x if the fund earns 7% effective.

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