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An engineer decides to set aside money in a 529 Plan for his newborn's college education. He estimates that the child's needs will be $48,000 on her 18th, 19th, 20th, and 21st birthdays. If he plans to make uniform deposits starting 3 years from now and continue through year 17, what should be the size of each deposit, if the account earns interest at a rate of 7% per year?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91295507

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