Assume an interest rate on your saving accounts

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You expect that your daughter will go to college ten years from now. Taking account of inflation, you estimate that you will need $160,000 to support her during her years in college. Assume an interest rate of 4 percent on your saving accounts. How much will you have to pay into those accounts in the next ten years to get $160,000 by then?

Reference no: EM131451210

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