Question: Today your son is 12 years old. Your son will also begin college on his 18th birthday. He will need $10,000 at the beginning of

Today your son is 12 years old. Your son will also begin college on his 18th birthday. He will need $10,000 at the beginning of each year of college (freshman, sophomore, junior, and senior years). At the present time you are able to find an investment fund paying 6% interest. How much money must you invest today so your son will have the appropriate $10,000 available at the beginning of each year in college?

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