How much do you need to save annually

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Reference no: EM131955727

Question: You have a child that is 5 years old, and would like to start saving up for their college education. You would like be able to pay dollar10,000 a year for four years of college starting 13 years from now (in years 13-16). How much do you need to save annually in years 1-12 years to meet your goal, if you can earn a real annual return of 5percentage on your college savings account?

Reference no: EM131955727

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