Explain how much money need to sock away right now

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Q. Let's say my name is Frank Zappa also my daughter Moon Unit Zappa was just born. I think her college education will cost me $80,000, 18 years from now.

Explain how much money I need to sock away right now to have $80,000 18 years from now if I expect to earn 9% on the money I invest today? Show your calculations. Ignore taxes.

Reference no: EM1394195

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