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Q 2: Jane, a freshman in college, needs $55,000 in 4 years to start studying for an MBA. Her investments earn 5% interest per year.
Q 2: Jane, a freshman in college, needs $55,000 in 4 years to start studying for an MBA. Her investments earn 5% interest per year. 1. How much must she invest today to have that amount at graduation? (10 marks) 2. If she invested once a year for four years beginning today until the end of the 4 years how much must she invest? (10 marks)
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