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Steve has just turned nine. His aunt has deposited $12,000 into a college fund for year and intends to deposit a further $3,000 per annum
Steve has just turned nine. His aunt has deposited $12,000 into a college fund for year and intends to deposit a further $3,000 per annum for the next nine years. What will be in the college fund when Steve turns eighteen if the return earned on the fund is 8% per annum?
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