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Max estimated a minimum need of $192,000 for college education fund for his son in 7 years when his son will start college. Assume that
Max estimated a minimum need of $192,000 for college education fund for his son in 7 years when his son will start college. Assume that after-tax rate of return that Max is able to earn from his investment is 4.22 percent compounded annually. Max has already earmarked $15,065 for his son education. What would be his current deficit to finance his son education?
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