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You want to have a $55,000 college fund in 16 years. How much will you have to deposit now under the scenario below. Assume that

You want to have a $55,000 college fund in 16 years. How much will you have to deposit now under the scenario below. Assume that you make no deposits into the account after the initial deposit.

An APR of 5% compounded daily.

You should invest $ ?

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