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Ann and Tom want to establish a fund for theirgrandson's college education. What lump sum must they deposit at a a 9.1 % annual interestrate,

Ann and Tom want to establish a fund for theirgrandson's college education. What lump sum must they deposit at a

a 9.1% annual interestrate, compounded monthly, in order to have $50 000 in the fund at the end of 15 years?

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