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Your cousin is currently 12 years old She will be going to college in six years. Your mind and uncle would like to have
Your cousin is currently 12 years old She will be going to college in six years. Your mind and uncle would like to have $120,000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest cate of 4.2% per year, how much money do they need to put into the account today to ensure that they will have $120,000 in six years? The amount they need to put away today is (Round to the nearest cent
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