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Anna's daughter will be attending college in 7 years. Assume current tuition and fees are $52,093, and inflation for college costs averages 6.5 percent,
Anna's daughter will be attending college in 7 years. Assume current tuition and fees are $52,093, and inflation for college costs averages 6.5 percent, and Anna can earn 3.4 percent on the money she invests for this purpose. Anna wants to know how much she will need to set aside today to pay four years of tuition and fees. Round the answer to two decimal places.
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Principles of Managerial Finance
Authors: Lawrence J. Gitman, Chad J. Zutter
14th edition
133507696, 978-0133507690
