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What sum of money should the brewers have

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The Brewers are saving for their daughter's college days. They would like to be able to withdraw $800 each month from their account for five years once their daughter starts college. Assuming that their account will earn interest at the rate of 9% compounded monthly, what sum of money should the Brewers have in the account when their daughter starts college?

Reference no: EM131125443

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