You want to begin a college fund for your newborn child; you hope to accumulate $250,000 within 21 years from now. If a

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answerhappygod
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You want to begin a college fund for your newborn child; you hope to accumulate $250,000 within 21 years from now. If a

Post by answerhappygod »

You want to begin a college fund for your newborn child; you
hope to accumulate $250,000 within 21 years from now. If a current
investment opportunity yields 14% annually, how much must you
invest in a lump sum (or one-time payment) in order to reach the
$250,000 when needed?
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