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You want to set up an education trust for a relative starting in 2014. The trust will pay $25,000 a year starting in year 2022 and ending in year 2025. The stated annual percentage rate is 8% compounded annually.

a. How much will you have to invest in 2010 to achieve your objective?

b. How much will you have to invest each year from 2012 - 2017 to achieve your objective?

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