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Suppose you have a son and he is seven now. You want to save for his college tuition, which is expected to be $50,000 per

Suppose you have a son and he is seven now. You want to save for his college tuition, which is expected to be $50,000 per year. Tuition will be paid at the beginning of each year for four years. Your son will go to college when he is 18. If the discount rate is 4.5%, what is the present value of the four-year college tuition that your son needs?

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