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Your child turned 5 years old today and you have decided to start saving for college. You put away $5,000 per year in a college

Your child turned 5 years old today and you have decided to start saving for college. You put away $5,000 per year in a college savings account starting one year from now. Your last deposit will be on the 18th birthday. Assuming that your bank offers a 3% per year, how much do you have in the bank on his/her 18th birthday?

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