Amount to Invest
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Say I just won the lottery and want to put some money away for my child's college education. College will cost $65,000 in 18 years. I can earn 8% compounded annually. How much would I need to invest?
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Solution Summary
The solution explains how to calculate the amount to invest to that it grows to a predetermined value.
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We are given the future value and we have to find the present value. The ...
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