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How much must be deposited at the beginning of each year

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Question 1: Lucy and Fred want to begin saving for their baby's college education. They estimate that they will need €200,000 in eighteen years. If they are able to earn 6% per annum, how much must be deposited at the beginning of each of the next eighteen years to fund the education? (Rounded your answer to nearest €)

Reference no: EM132508350

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