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How much money do you need to put into the account

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Question - Your daughter is currently 10 years old. You anticipate that she will be going to college in 8 years. You would like to have $107,000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 10% per? year, how much money do you need to put into the account today to ensure that you will have $107,000 in 8 ?years?

Reference no: EM132858848

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