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How much tuition can afford to pay at the beginning

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Problem 1: Invest $1,000 at the end of each month to daughter's college (starting at the end of this month) fund that earns a 12% annual rate of return compounded monthly. Assuming that she starts college in exactly 5 years and she will spend 4 years in college, how much tuition can she afford to pay at the beginning of each of her 4 years in college? (Round to nearest dollar)

Reference no: EM132640927

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