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Saving for College You expect that your daughter will go to college ten years from now. Taking account of inflation, you estimate that you will

Saving for College

You expect that your daughter will go to college ten years from now. Taking account of inflation, you estimate that you will need $160,000 to support her during her years in college. Assume an interest rate of 4 percent on your savings accounts. How much will you have to pay into those accounts in the next ten years to get $160,000 by then?

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