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    College Investment Calculations: Present Value of Money

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    Question: Assume the total expense for your current year in college equals $20,000. Approximately how much would your parents have needed to invest 21 years ago in an account paying 8% compounded annually to cover this amount?

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    https://brainmass.com/business/finance/college-investment-calculations-present-value-money-111189

    Solution Summary

    The solution determines how much would need to be invested 21 years ago annually to cover a year in college in the current year.

    $2.19

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