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Dollars purchasing power

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There are four children ages 5,4,3, 2,0. Each child will have 100,000 dollars purchasing power at age 18. Education cost have been increasing at a rate of 7%. Inflation has been steady at 3%. How much must I set aside today to fund my goal for my grandchildren if I can earn a rate of 9% on my return. Please help me understand how to calculate this in excel.

Reference no: EM131941194

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