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If one year of college currently costs $23,000, how much will it cost Grand Rapids, Michigans resident Michelle Spindle to pay for one year of
If one year of college currently costs $23,000, how much will it cost Grand Rapids, Michigans resident Michelle Spindle to pay for one year of schooling for newborn daughter, Melissa, 18 years from now, assuming a 6 percent annual rate of inflation? Use Appendix A.1 (attached on Canvas) or the Garman/Forgue companion website. Round your answer to the nearest dollar. Round Future Value of a Single Amount in intermediate calculations to four decimal places.
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