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Your cousin is currently 11 years old. She will be going to college in 7 years. Your aunt and uncle would like to have $90,000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 4.2% per? year, how much money do they need to put into the account today to ensure that they will have $90,000 in 7 ?years? The amount they need to put away today is ?$ . ?(Round to the nearest? cent.)

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Financial Management, Finance

Category:- Financial Management
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