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Calculate the total cost of one years tuition

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Reference no: EM13884063

Some experts estimate that the cost of education in the US increases by 6% p.a. An Ivy League college currently costs $24,502 for one year''s study today. Using compound interest rate of 6% p.a, calculate the total cost of one years tuition 6 years and 3 months from now, compounding, semi annually.

Reference no: EM13884063

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