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Lucas and Jodi have an 18 years old son who is going to college this year for four years. The tuition is $15,000 per year

Lucas and Jodi have an 18 years old son who is going to college this year for four years. The tuition is $15,000 per year and is expected to increase at 4% per year. They believe that they can earn 6% per year on their investment, what lump-sum amount of money must they deposit today to pay for their sons education?

$56,626.85
$52,983.57
$58,323.15
$57,222.71

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