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College education plans to start depositing money

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A mechanical engineer who is anticipating paying for his daughter's college education plans to start depositing money now(year 0) and continue through year 17. If he deposits $ 5000 each year, how much will his daughter be able to withdraw each year starting in year 18 and continuing through year 22? Assume the account earns interest at 8% a year.

Reference no: EM131085842

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