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What amount should she deposit now

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Reference no: EM133015121

Brenda Young desires to have $20450 saved after 7 years from now for her kid's college fund. If she will earn 4 percent (compounded annually) on her money, what amount should she deposit now?

Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]

(Round your answer to the nearest whole number. Do not include the comma, period, and "tiny_mce_markerquot; sign in your response.)

Reference no: EM133015121

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