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Question: You decide to make deposits into an educational savings account on each of your daughter's birthdays, starting with her first birthday. Assume that the educational savings account will return a constant 7%. You deposit $2000 on your daughter's first birthday and plan to increase the size of the deposits by 5% each year. Assuming that you have already made the deposit for your daughter's 18th birthday, then the amount available for the daughter's college expenses on her 18th birthday is?

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Category:- Basic Finance
Reference No.:- M92803608

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