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Annual investments. Lauren and Will are married and live in Cedar Rapids, Iowa. They have a new investment goal to create a college fund for

Annual investments. Lauren and Will are married and live in Cedar Rapids, Iowa. They have a new investment goal to create a college fund for their newborn. They estimate they will need $200,000 in 18 years. Assuming that the family could obtain a return of 8.96 percent, how much would they need to invest annually to reach their goal? (5 points)

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FV

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