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Your oldest daughter is about to start kindergarten in a private school. Tuition is $ 2 0 comma 0 0 0 per year, payable at
Your oldest daughter is about to start kindergarten in a private school. Tuition is $ comma per year, payable at the beginning of the school year. You expect to keep your daughter in private school through high school. You expect tuition to increase at a rate of per year over the years of her schooling. What is the present value of your tuition payments if the interest rate is per year? How much would you need to have in the bank now to fund all years of tuition
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