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When Julis is born, her mother sets aside $7,500 in an account with the intention of funding her college education in 18 years. The mother
When Julis is born, her mother sets aside $7,500 in an account with the intention of funding her college education in 18 years. The mother expects that the market interest rate will be 7% for the first 12 years, but that it will climb to 9% for the following 6 years. How much will Julia have when she enters college in 19 years?
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