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Revere College predicts that in 6 years it will take $150,000 to attend the college for four years. Madison has a substantial amount of cash

Revere College predicts that in 6 years it will take $150,000 to attend the college for four years. Madison has a substantial amount of cash and wishes to invest a lump sum of money for her child’s college fund. How much should Madison put aside in an account with an APR of 8% compounded monthly in order to have $150,000 in the account in 6 years?


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