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Parents wish to have $ 1 1 0 , 0 0 0 available for a child's education. If the child is now 9 years old,

Parents wish to have $

110, 000

available for a

child's education. If the child is now

9

years

old, how much money must be set aside at

4 %

compounded semiannually to meet their financial goal when the child is

18 ?

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