How much must he put into that fund today

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Reference no: EM131044878

John’s son will be going to college in 8 years. John want’s to have a fund that will provide him $12,000 per year (end of year) for each of his son’s five years in college. How much must he put into that fund today if the fund will earn 12 percent in each of the 13 years?

Reference no: EM131044878

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