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Annual investments. Edith and Bertie are married and live in Des Moines, Iowa. They have a new investment goal to create a college fund for

Annual investments. Edith and Bertie are married and live in Des Moines, Iowa. They have a new investment goal to create a college fund for their newborn. They estimate they will need $275,000 in 18 years. Assuming that the family could obtain a return of 8.62 percent by contributing to a College Savings Iowa 529 Plan, how much would they need to invest annually to reach their goal? (5 points)

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