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Four years of undergraduate education

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Question 1: If one year of college costs 12500 now and costs are increasing at a rate of 4% per year, how much will one year of college cost in 18 years?

Question 2: If college costs continue to increase at 4% per year, and Anna's college savings are invested in an account that pays 7% interest, how much money will she need to have available at age 18 to pay for all four years of her undergraduate education?

Reference no: EM132460653

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