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Mike would like to set aside right away money for his childs education. How much should he set aside today to have $120,000 when his
Mike would like to set aside right away money for his childs education. How much should he set aside today to have $120,000 when his child is 18 years old, assuming he can earn 5% per year on his investment? Alternatively, if he decides to put aside money each year until his child is 18, how much should he put aside each year starting now, assuming the same interest rate of 5%?
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