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How much would need to invest annually to reach the goal

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Sheldon Cooper and Amy Fowler are married and live in Pasadena, California. They have as a new investment goal to create a college fund for their newborn daughter. They estimate that they will need $192,000 in 18 years.

Problem 1: Assuming that the Cooper-Fowler family could obtain a return of 7 percent, how much would they need to invest annually to reach their goal?

Reference no: EM133006331

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