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What is the current lump-sum investment required

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Question - Matthew estimated a minimum need of $167,000 for college education fund for his son in 6 years when his son will start college. What is the current lump-sum investment required to fund his child's education? Assume that after-tax rate of return that Matthew is able to earn from his investment is 9.63 percent compounded annually. Round the answer to two decimal places.

Reference no: EM133148808

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