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Holly would like to plan for her daughters college education. She would like her daughter, born today, to attend college for 4 years, beginning at
Holly would like to plan for her daughters college education. She would like her daughter, born today, to attend college for 4 years, beginning at age 18. Tuition is currently $10,000 annually, and tuition inflation is 7%. Holly can earn an after-tax rate of return of 10%. How much must Holly save at the end of each year, if she wants to make the last payment at the beginning of her daughter's first year of college? Do not use Excel; use a financial calculator to get the answer and show the keystrokes.
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