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Future Value Computation Hermun Lee has decided to start sung far his daughters colege education by deponiting 53,500 at the end of every year for
Future Value Computation Hermun Lee has decided to start sung far his daughters colege education by deponiting 53,500 at the end of every year for 15 years. He has determined that he will be abie to earn 6B interes. compounded annusly. He hopes to heve at least $0,000 when his daughter starts college in 15 years. (a) How much wil he have saved? (b) Wil his sevings plafi be successtuil kound to the nearest dollar. Use Excel or a financial calculator for computation
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