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You plan on going to law school for 3 years starting in 2 years. The cost of tuition for the first year will be $40,000 The cost of tuition for the second year will be $41,600 The cost of tuition for the third year will be $43,264 How much would you have to invest today in an account that earns 4.00% APR compounded annually) to exactly pay for your tuition? o $106,680 $107,715 $114,275 $110,947 $115,385
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Calculate the present value of tuition amount as follows 1 Year Amount PVF @ 4% 0.961538462 3 2 $40,000.000.924556213 4 3 $41

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