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Laura and Tommy want to make sure their newborn can attend college. They have seen estimates that the four - year cost of in -
Laura and Tommy want to make sure their newborn can attend
college. They have seen estimates that the fouryear cost of in
state colleges will be $ in years. They ask their
financial advisor they obviously didn't take this course how much
they need to save in an annuity each year over that time if they
invest at a fairly lowrisk rate of six percent. What was the
advisor's answer rounded to the nearest dollar Hint: remember
that discounting is the inverse of compounding.
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