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How much does each child receive

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Question - A grandmother who died left an estate worth $200,000 to be split among her two grandchildren, currently age 8 and 12. Each child is to receive an equal dollar amount ($X) from the estate when they reach age 18. If the money can be invested at j2 = 6%, how much does each child receive when they turn 18?

Reference no: EM132545442

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