How much should he invest if the rate of interest

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A father whose dream is to see his son grow up to be an engineer, plan to invest a certain sum towards his son education upon his birth. He will need to withdraw $12000 each year from the 21st to the 24th year of his son life. How much should he invest, if the rate of interest is 10% compounded annually?

Reference no: EM13158468

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