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Parents wish to have $ 1 2 0 , 0 0 0 available for a child's education. If the child is now 5 years old,

Parents wish to have $120,000 available for a child's education. If the child is now 5 years old, how much money must be set aside at 3% compounded semiannually to meet their financial goal when the child is 18?
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The amount that should be set aside is $
(Round up to the nearest dollar.)
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