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Business, 20.03.2020 01:28 Theresab2021

Your child is planning on attending college next year. The cost is projected at $15,000 in year 1, $16,000 in year 2, 17,000 in year 3 and finally $18,000 in year 4. The first payment will be made 1 year from today. How much should be in the education account today in order make these payments? Assume a 4% discount rate.

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