8. Ronda is planning for her son's college education to begin five years from today....
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8. Ronda is planning for her son's college education to begin five years from today. She estimates the yearly tuition, books, and living expenses to be $5,000 per year for a four-year degree. How much must Thelma deposit today, at an interest rate of 8 percent, for her son to be able to withdraw $5,000 per year for four years of college? Using traditional formulas (not excel) show your work to explain your answer.
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