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Stephanie wants to save for her daughter's education. Tuition costs $12,000 per year in today's dollars. Her daughter was born today and will go to
Stephanie wants to save for her daughter's education. Tuition costs $12,000 per year in today's dollars. Her daughter was born today and will go to school starting at age 18. She will go to school for 5 years. Stephanie can earn 12% on her investments and tuition inflation is 6%. How much must Stephanie save at the end of each year if she wants to make her last savings payment at the beginning of her daughter's first year of college? $1,889 $2,109 O $2,267 $2.760
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