Question: -). Assume the total expense for your current year in college equals $25,000. Approximately how much would your parents have needed to invest 21

-). Assume the total expense for your current year in college equals

-). Assume the total expense for your current year in college equals $25,000. Approximately how much would your parents have needed to invest 21 years ago in an account paying 10% compounded semi-annually to cover this amount? That is, what is the PV of $25,000 due in 21 years if the interest rate is 10% semi-annually?

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