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Your daughter is currently7 years old. You anticipate that she will be going to college in 11 years. You would like to have $130,000 in

Your daughter is currently7 years old. You anticipate that she will be going to college in 11

years. You would like to have $130,000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 6 % per year, how much money do you need to put into the account today to ensure that you will have $130,000 in 11 years?

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