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method please xls: Amy is meeting her financial planner today to open an investment account and plan for her daughter's university education. The tuition for
method please
xls: Amy is meeting her financial planner today to open an investment account and plan for her daughter's university education. The tuition for the first year $20,000 will be paid 18 years from now when her daughter enters the university. The university education will take 5 years to complete, and the tuition will grow at 3% per year. This investment account will generate 5% per year. Amy has just inherited a large sum of money, and would like to put a lump-sum deposit into this investment account today. What amount does she have to put into this account today so as to cover her daughter's university education in the future? Answer to the nearest cent and do not include the $ sign. er- .pd Step by Step Solution
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