Question you have decided that you want to have 125000 for, Ask an Expert

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Question: You have decided that you want to have $125,000 for child's college education 21 years from now. Assume an interest rate is 15% per year for projection purposes. How much do you need to deposit each year if your first deposit is now and the last deposit is 18 years from now to achieve this goal. (All deposits are the same amount)

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