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Assume that your parents wanted to have $ 1 6 0 0 0 0 saved for university by your 1 8 th birthday and they

Assume that your parents wanted to have $ 160000 saved for university by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned 10.0% per year on their investments.
a.How much would they have to save each year to reach their goal?
b. If they think you will take four years instead of three to graduate and decide to have $ 210000 saved just in case, how much would they have to save each year to reach their new goal?

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