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Bob Boyd received gifts of $150,000 from his grandfather. He plan to deposit part of it as his college funds in the future. He estimate

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Bob Boyd received gifts of $150,000 from his grandfather. He plan to deposit part of it as his college funds in the future. He estimate that he will withdraw for 4 annual payments of $30,000 each. The first withdraw will begin 8 years from today. Given an annual interest rate of 5%, what is the amount he must deposit today? 1 i RT: BIO % page Next page

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