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John Rider wants to accumulate $115,000 to be used for his daughter's college education. He would like to have the amount available on December 31,
John Rider wants to accumulate $115,000 to be used for his daughter's college education. He would like to have the amount available on December 31, 2026. Assume that the funds will accumulate in a certificate of deposit paying 8% interest compounded annually. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
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