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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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