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Twenty - five years from now, you would like to give your child $ 5 0 0 , 0 0 0 . How much money

Twenty-five years from now, you would like to give your child $500,000. How much money must you set aside per month, starting next month, if you can earn 7.5 percent per year, compounded monthly, on your investment?
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$569.96
$18,540.56
$352.83
$7,355.34
$1,250.65

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