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Bob and Mary want to make a lump-sum investment for their newborn's college education. Their goal is to accumulate $182,000 in 18 years. What is

Bob and Mary want to make a lump-sum investment for their newborn's college education. Their goal is to accumulate $182,000 in 18 years.

What is the amount they must invest today to reach their goal if the annual rate of return is 7%?

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