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Jack and Jil have jast had their first child. If colloge is expected to cost...

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Accounting

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Jack and Jil have jast had their first child. If colloge is expected to cost 5150,000 per year in 18 years, how much should the couple begin depositing annually at the end of the next 18 years it acoundate enough funds to pay 1 year of tution 18 years fim now? Assume that they can eam a 8 S annual rate of return on their investment. The amourt that the coupla should begin depositing annualy at the end d each year is $ (Round to the nearest cent))

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