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Attacks college predicts that in 18 years it will take $250,000 to attend the college for four years. Madison has a substantial amount of cash and wishes to invest a lump sum of money for her child’s college fund. How much should Madison put aside in an account with an APR of 12% compounded monthly in order to have $250,000 in the account in 18 years? Round your answer to the nearest cent, if necessary
Sagot :
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