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Mary and James want to begin saving for their baby's college education. They estimate that they will need $160000 in eighteen years. If they are

Mary and James want to begin saving for their baby's college education. They estimate that they will need $160000 in eighteen years. If they are able to earn 5% per annum, how much must be deposited at the beginning of each of the next eighteen years to fund the education?

a. $5741.

b. $5256.

c. $9858.

d. $5417.

PLEASE POST CALCULATIONS. THANK YOU, I WILL RATE.

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