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Suppose that your child plans on attending college beginning 12 years from now. Assume that college currently costs $15,000 per year and this cost is

Suppose that your child plans on attending college beginning 12 years from now. Assume that college currently costs $15,000 per year and this cost is expected to grow by 6% per year. What monthly deposit into an account paying 14% APR compounded monthly will you need to make to fund four years of college? Round your final answer to two decimals. Show your work, and provide Excel formulas used (if necessary).

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