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How many years will it take to accumulate

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Question - You plan on sending your son to Morton College when he turns 18. Based on current estimates, it will cost $10,394.65 for tuition and books, etc. As the result of an auto accident, you have $5,000, received as a settlement from your insurance company. If you invest the $5,000 today at 5%, approximately how many years will it take to accumulate the $10,395?

Reference no: EM132770819

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