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Support the education of favorite grand-nephew

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Alysha would like to support the education of her favorite grand-nephew, Stephen, who plans to begin university in 3 years.

How much will Alysha have to invest today, at 4 percent, to be able to give Stephen $ 7,200 at the end of each year for 4 years? (Round answer to 2 decimal places, e.g. 125.12. Do not round your intermediate calculations.)

Reference no: EM133068538

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