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How much money is in the college fund today

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Point 1: Kumar has been saving up for a college fund for his oldest daughter. He deposited $5,000 initially, followed by annual deposits of $4,000, $6,000, $4,600, and $5,000. The money was initially invested at 5.75% compounded semi-annually for the first two years before increasing to 6% compounded quarterly for the balance of the investment.

Question 1: How much money is in the college fund today?

Reference no: EM132490727

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