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Task 2. 8 points max Lucy and Fred want to begin saving for their baby's college education. They estimate that they will need $200,000 in

Task 2. 8 points max

Lucy and Fred want to begin saving for their baby's college education. They estimate that they will need $200,000 in eighteen years. If they are able to earn 6% per annum, how much must be deposited at the beginning of each of the next eighteen years to fund the education? Show your computations!

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