What annual payments must she make

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Reference no: EM131835977

A client plans to send a child to college for 4 years starting 18 years from now. Having set aside money for tuition, she decides to plan for room and board also. She estimates these costs at $20,000 per year, payable at the beginning of each year, by the time her child goes to college. If she starts next year and makes 17 payments into a savings account paying 5 percent annually, what annual payments must she make?

Reference no: EM131835977

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