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You started an education fund for your child. You are expecting him/her to attend college 18 years from now. According to statistics, the expected amount you will need 18 years later should be $300,000. If the fund provides a rate of return of 10% per year, compounded annually, and no additional contribution is made to the fund, how much do you need to deposit today to meet your need 18 years later?

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Financial Management, Finance

Category:- Financial Management
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