Question: Problem 7 - 0 5 Holly wants to have $ 1 5 0 , 0 0 0 to send a recently born child to college.

Problem 7-05
Holly wants to have $150,000 to send a recently born child to college. She sets up a 529 plan and wants to know how muc
Interest Factors for the Future Value of an Annuity of One Dollar
\table[[\table[[Time],[Period],[(e.g.s],[year)]],1%,2%,39%,4%,5%,6%,7%,8%,9%,10%,12%,14%,16%,20%h she must invest at the end of each year for the next 16 years if the funds can earn 4 percent. Use Appendix C to answer the question. Round your answer to the nearest dollar.
$
If she can earn 7 percent, how much less will she have to invest each year? Use Appendix C to answer the question. Round your answer to the nearest dollar.

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