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You want to begin a college fund for your newborn child; you hope to accumulate $30,000 by 18 years from now. If a current investment

You want to begin a college fund for your newborn child; you hope to accumulate $30,000 by 18 years from now. If a current investment opportunity yields 7 percent, how much must you invest in a lump sum to realize the $30,000 when needed?

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