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How much will need to invest today in order to provide

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Question 1: If can invest at 8% pa compounded monthly, how much will need to invest today in order to provide an allowance of $300 per month for two years to a child commencing at boarding school two years from now? (Assume that the first monthly allowance is paid exactly two years from now.)

A. $5,689.49
B. $7,200.00
C. $4,400.14
D. $7,776.45

Reference no: EM132894205

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