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Homework answers / question archive / Lucy and Fred want to begin saving for their baby's college education
Lucy and Fred want to begin saving for their baby's college education. They estimate that they will need $240000 in eighteen years. If they are able to earn 8% per annum, how much must be deposited at the beginning of each of the next eighteen years to fund the education?
|
A. |
$10799. |
|
B. |
$5934. |
|
C. |
$5758. |
|
D. |
$6289. |
