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Business, 14.04.2020 19:06 aricketts3901

Today is your birthday, and you decide to start saving for your college education. You will begin college on your 18th birthday and will need $4,000 per year at the end of each of the following 4 years. You will make a deposit 1 year from today in an account paying 12% annually and continue to make an identical deposit each year up to and including the year you begin college.
If a deposit amount of $2,542.05 will allow you to reach your goal, what birthday are you celebrating today?

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