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Abe will need $$20,000$ per year for four years to pay for tuition. How much will Abe's parents have to invest at the end of each year for

the $8$ years before he begins his studies if their savings earn compound interest at $8$ percent per year?

Assume the tuition payments occur at the end of each year. $($Round answer to $2$ decimal places, e$.$g$.125\mathrm{.}12.$ Do not round your intermediate

calculations.$)$

Annual savings

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