A couple has child that will be entering kindergarten

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Reference no: EM131487860

A couple has child that will be entering Kindergarten, and their child care expenses will lessen. They plan to invest $12,000 a year in a mutual fund for their child’s education starting today.

If the annual return on their investment is 7% and they reinvest all dividends, how much will they have available at the end of 13 years? What formula do i need for this problem?

Reference no: EM131487860

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