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Your son is six years old. You want him to be able to withdraw $14700 every year, when he turns 19 in order to go
Your son is six years old. You want him to be able to withdraw $14700 every year, when he turns 19 in order to go to school for four years. Assume interest is 6.62 percent compounded semi-annually for the entire time period. How much do you need to deposit three years from now so that you are certain that your son is able to do this? a. $28 777.49 b. $27 777.49 c. $28 877.49 d. $27 877.49 e. $29 877.49
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