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Steve Short wants to set up a fund to pay for his daughter's education. In order to pay her expenses, he will need $23,000 in four years,$24,300 in five years, $26,000 in six years, and $28,000 in seven years. If he can put money into a fund that pays 4 percent interest,

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Question: What lump-sum payment must he place in the fund today to meet his college funding goals?

Note: Please provide reasons to support your answer.

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Category:- Basic Finance
Reference No.:- M91148902

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