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please help A professor has two daughters that he hopes will one day go to college. Currently, in-atate students at the local University pay about
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A professor has two daughters that he hopes will one day go to college. Currently, in-atate students at the local University pay about \$22,027.00 per year (all expenses included). Tuition will increase by 5.00% per year going forward. The professor's oldest daughter, Sam, will start college in 16 years, while his youngest daughter, Elie, will begin in 18 years. The professor is saving for their college by putting money in a mutual fund that pays about 7.00% per year. Tuition payments are at the beginning of the year and college will take 4 years for each girt, (Sam's first fuition payment Will be in exactly 16 yearti) The professor has no illusion that the ntate lottery funded scholarship will still be around for his girls, so how much does he need to depasit each year in this mutual fund to succesefully put each daughter through college. (ASSUME that the money stays invested during college and the professor will make his last dephait in the account when Sam, the OLDEST daughter, starts college.) Answer format: Currency; Found to: 2 decimal places. A basebail player is offered a 5-year contract that pays him the following amounts Step by Step Solution
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