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How much should the couple begin depositing annually

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Question 1: Jack and Jill have just had their first child. If college is expected to cost ?$140,000 per year in 18 ?years, how much should the couple begin depositing annually at the end of the next 18years to accumulate enough funds to pay 1 year of tuition 18 years from? now? Assume that they can earn a 6?% annual rate of return on their investment.

  • The amount that the couple should begin depositing annually at the end of each year is ?$ ???

Reference no: EM132492668

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