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What would his current deficit to finance his son education

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Question - Max estimated a minimum need of $169,000 for college education fund for his son in 11 years when his son will start college. Assume that after-tax rate of return that Max is able to earn from his investment is 9.98 percent compounded annually. Max has already earmarked $22,619 for his son education. What would be his current deficit to finance his son education?

Reference no: EM133022876

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