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In five years, your son will graduate from high school, at which point he will enter university. You estimate that you will need $20,000 to

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In five years, your son will graduate from high school, at which point he will enter university. You estimate that you will need $20,000 to pay for his university tuition. How much do you need to set aside today if you can place your money in an investment vehicle earning an average of 8% per year? All calculations must be shown

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