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Brenda Young desires to have $ 1 8 , 0 0 0 eight years from now for her daughter s college fund. If she will

Brenda Young desires to have $

18, 000

eight years from now for her daughter

s college fund. If she will earn

5

percent

(

compounded annually

)

on her money, what amount should she deposit now? Use the present value of a single amount calculation.

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