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You have a child who will start college in 16 years, and you plan to set aside $1,000 a year for her college education during

You have a child who will start college in 16 years, and you plan to set aside $1,000 a year for her college education during that period. You estimate that you will earn an annual interest rate of 7% on your investment. What amount can you expect to have available for your child when they start college?

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