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Martha wants to start saving for college. She estimates that she will need $50,000 when she starts college four years from now. She plans to
Martha wants to start saving for college. She estimates that she will need $50,000 when she starts college four years from now. She plans to save $9,500 this year and increase deposits by 5 percent annually (payments at the end of each year). She can earn 7 percent on her savings. Will she meet her savings goal of $50,000 for college four years from now?
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