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You are saving for the college education of your two children. They are two years apart...

You are saving for the college education of your two children. They are two years apart in age: one will begin college 15 years from today and the other will begin 17 years from today. You estimate your children’s college expenses to be 21,000$ per year per child, payable at the beginning of each school year. It takes four years to graduate. The annual interest is 15%. How much money must you deposit in an account each year to fund your children’s education? Your deposits begin now. You will make your last deposit one year before your oldest child enters college.

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jeff jeffy answered 1 year ago
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