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Future Value of an Annuity You just turned 12 and you want $40,000 for college at the end of your 17th year. If you are

Future Value of an Annuity

You just turned 12 and you want $40,000 for college at the end of your 17th year. If you are to deposit the same amount at the end of each year of your age into a risk-free account with a 5% annual interest rate, compounded annually, how much should you invest each year?

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