Question: 26) Solve the problem. Mark and Kate are establishing a fund for their son's college education. What lump sum must they deposit in an account

26) Solve the problem. Mark and Kate are establishing a fund

26) Solve the problem. Mark and Kate are establishing a fund for their son's college education. What lump sum must they deposit in an account that gives 7% annual interest rate, compounded monthly, in order for them to have $70,000 in the fund at the end of 10 years? 26)

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