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Lucy has a 5 year old son who will go to college at 18 years old. She has to pay the $42000 tuition fee for
Lucy has a 5 year old son who will go to college at 18 years old. She has to pay the $42000 tuition fee for each year in college(4year college). How much does she need to put in the bank each year (1yrar from now until her son is 18) to cover all the costs? The interest rate is 6% compounded annually.
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