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Judge Drago has decided to set up an educational fund for his favorite granddaughter, Emma, who will start college in one yea

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Answer #1

rate positively ..

We have to compute the present value of the future investment value
Put in financial calculator
FV 0
PMT -20500
I 7.00%
N                  4
Compute PV        69,438
Therefore deposit amount =        69,438
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