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Mr. and Mrs. Rahman are planning for their daughters education. Tuition currently costs $20,000 per year and is paid in the beginning of the year

Mr. and Mrs. Rahman are planning for their daughters education. Tuition currently costs $20,000 per year and is paid in the beginning of the year and they expect their daughter to attend college for 5 years, beginning today. They expect their investments to earn 10% per year and for tuition inflation to be 5.5% each year. How much must Mr. and Mrs. Rahman invest today, to meet their goal

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