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Craig and Claire would like to start saving for their daughter Gabriella's college education. Gabriella just turned 12 today at t=0, and she will be

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Craig and Claire would like to start saving for their daughter Gabriella's college education. Gabriella just turned 12 today at t=0, and she will be entering college 6 years from now (at t = 6). College tuition and expenses at Private U. are expected to be $50,000 at t = 6,$53,000 att=7. $55,000 at t = 8, and $58,000 at t-9. Gabriella will graduate 4 years after entering college. Currently, Craig and Claire have $25,000 in Gabriella's college fund. They plan on depositing an equal annual amount into the fund starting one year from today (t = 1). They will make 6 annual deposits into their daughter's college fund (that is, at t = 1,2,3,4,5, and 6). Craig and Claire expect the college fund to earn an annual return of 8%. Amounts that remain in the fund will continue to earn interest (at 8%) during the time their daughter is in college. How much do they need to deposit annually into the account to just have enough money to send their daughter through 4 years of college? (That is, there will be no money left in the account once the last withdrawal is made.) O $20,801.47 O $23.125 O $25,433.02 O $26,209.36 O $31,617.24

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