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Ben's daughter is a freshman at a university. She plans to study abroad during her last semester at the university. The abroad program will

Ben's daughter is a freshman at a university. She plans to study abroad during her last semester at the university. The abroad program will cost her $20,000. Ben wants to pay for the program. How much money does Ben have to set aside today in order to pay for the program three years from now? The money will be invested in a CD which pays 6% interest rate compounded annually.

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