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You have a couple who are 31 years old, and want to retire at the age of 67. Knowing that, the couple has a combined
You have a couple who are 31 years old, and want to retire at the age of 67. Knowing that, the couple has a combined annual income of $95,000 today.
1. They plan to have their first kid in exactly 1 year from now. Today a college education costs about $30,000 a year. Assume this education cost grows with an annual inflation rate of 6%. How much will the college education cost per year when the child turns 18?
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