Fallen in love with the perfect mate

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Assume it is January 1, 2008 and you have just fallen in love with the perfect mate. The only problem is that s/he has a eight year old son from a previous marriage who you will have to send to college. Assuming a 10% interest rate, how much will you have to put in the bank at the end of each of the next ten years (2008-2017) so the son can withdraw $20,000 per year for six years starting January 1, 2018?

Reference no: EM131250907

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