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Assume the total expense for your current year in college equals $25,000 due immediately. YOur total college expense will increase by the rate of inflation
Assume the total expense for your current year in college equals $25,000 due immediately. YOur total college expense will increase by the rate of inflation (2.5%) for next 3 years. Approximately how much would your parents have needed to invest 21 years ago in an account paying 6% compounded annually to cover this stream of cash flow? Assume account will continue to pay 6% compounded annually 21 years
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