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Assume that the current annual costs for your clients choice of college for this son are $35,000. Your clients son is now 7 years old

Assume that the current annual costs for your clients choice of college for this son are $35,000. Your clients son is now 7 years old and assuming he will be age 18 when beginning college. The college cost inflation rate is 5.6 percent compounded annually. Estimate first-year cost of college after adjustment for inflation.

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