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What annual sinking fund payment should they make

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Reference no: EM131627743

Question: Kathy and Patrick Mowers have a 12-year-old daughter and are now in a financial position to begin saving for her college education. What annual sinking fund payment should they make to have her entire college expenses paid at the time she enters college six years from now? Her college expenses are projected to be $30,000 and the annual interest rate is 6%.

Reference no: EM131627743

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