Your daughter is currently 8 years old. You anticipate that she will be going to college in
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Your daughter is currently 8 years old. You anticipate that she will be going to college in 10 years. You would like to have $100,000 in a savings account at that time. If the account promises to pay you a fixed interest rate of 3% per year, how much money to you need to put into the account today to ensure that you will have $100,000 in 10 years.
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