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Jamey adopts a baby. He estimates he will need to have $100,000 ready in 18 years when the baby goes to college. How much does
Jamey adopts a baby. He estimates he will need to have $100,000 ready in 18 years when the baby goes to college. How much does he need to invest now to have $100,000 in 18 years assuming he can earn 6% annually on his money? Hint: Figure out what type of time value of money problem this is. Find the correct formula in module 6. Show your work
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