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Interest compounded monthly in order to meet goal

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Suppose you are going to need $55,000 for your child to attend college 17 years from now. How much would you have to deposit monthly into an annuity bearing 5.25% interest compounded monthly in order to meet your goal?

Reference no: EM131057970

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Interest compounded monthly in order to meet goal : Suppose you are going to need $55,000 for your child to attend college 17 years from now. How much would you have to deposit monthly into an annuity bearing 5.25% interest compounded monthly in order to meet your goal?
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