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Tuition at the Home State University is currently $10,000 per year, increasing on the average of 6% per year. What is the lump sum needed
Tuition at the Home State University is currently $10,000 per year, increasing on the average of 6% per year. What is the lump sum needed at the beginning of the freshman year of college to fund an 8-year old childs college education for 4 years starting at age 18, if the investment return is expected to be 4%?
a. $65,778
b. $67,706
c. $73,727
d. $69,502
*** I NEED TO KNOW SPECIFIC FV, PV, PMT, I/Y AND N TO PLUG INTO MY CALCULATOR
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