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You want to have $94,000 in 16 years to help your child attend college. If you can earn an annual interest rate of 5 percent,

You want to have $94,000 in 16 years to help your child attend college. If you can earn an annual interest rate of 5 percent, how much will you have to deposit today?

$41,011.89
$20,713.79
$39,910.62
$43,062.48
$38,137.93

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