Consider a scenario where a young couple, welcoming their first child, aims to secure funds for their
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Question:
Consider a scenario where a young couple, welcoming their first child, aims to secure funds for their child's future college education. They decide to make deposits into an educational savings account on each of their daughter's birthdays, starting with her first birthday. Assume that the educational savings account will return a constant The parents deposit $ on their daughter's first birthday and plan to increase the size of their deposits by each year. Assuming that the parents have already made the deposit for their daughter's th birthday, then the amount available for the daughter's college expenses on her th birthday is closest to:
$
$
$
$
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