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Assume you are planning how to finance your child's college education. The child is 3 years old now so there are 15 years to go before your child...

Assume you are planning how to finance your child's college education. The child is 3 years old now so there are 15 years to go before your child enters college at age 18. According to your estimates you will need $80,000 in the bank at that time.

a. If you believe you can earn 9% a year, on average, between now and the time your child starts college, how much will you have to invest each year between now and then in order to reach your target? (for simplicity, assume end-of-year payments)
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Assume you are planning how to finance your child's college education. The child is 3
years old now so there are 15 years to go before your child enters college at...

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