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Practice Problem 2 Your parents start saving for your sister's college education. She will begin college at the age of 1 8 and will need
Practice Problem Your parents start saving for your sister's college education. She will begin college at the age of and will need $ per year at the end of each of the following four years she stays in college. Tuitions are paid after starting college. They will start to make a deposit one year from today in an account which pays compounded annually and they continue making an identical deposit until the year your sister starts college. If a deposit of $ will allow them to reach their goal, how old is your sister?
Practice Problem
Your parents start saving for your sister's college education. She will begin college at the age of and will need $ per year at the end of each of the following four years she stays in college. Tuitions are paid after starting college. They will start to make a deposit one year from today in an account which pays compounded annually and they continue making an identical deposit until the year your sister starts college. If a deposit of $ will allow them to reach their goal, how old is your sister?
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