(Answered) Your daughter was just born today so that means its time to

Finance

Your daughter was just born today, so that means its time to start saving for her college education. You plan to make 18 annual payments (starting today) of $3000 each year on her birthday (the last coming on her 17th birthday). You will withdraw the money on her 18th birthday (no payment will be made this day) and write check to the college of her choosing. If you expect an average investment return of 8%, how will you have saved up for her college tuition?

Total College Savings =

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