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Posted on Jul 13, 2024

The parents of a newborn wish to save for college. They wish to have enough to withdraw $40,000 for 4 years starting in 18 years.

The parents of a newborn wish to save for college. They wish to have enough to withdraw $40,000 for 4 years starting in 18 years. How much do the parents need to deposit today in an account if the account earns 10%.

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