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Julie's parents would like to have $50,000 in her education fund in exactly 8 years from now. If they can earn 8% per year, compounded

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Julie's parents would like to have $50,000 in her education fund in exactly 8 years from now. If they can earn 8% per year, compounded monthly, how much would they need to invest as a single lump sum today? A. $23,159.67 B. $27,013.44 C. $26,420.68 D. $22,526.17

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