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A couple with a new baby girl want to set aside money today that will cover...

A couple with a new baby girl want to set aside money today that will cover her four years of college. This will be a ONE-time contribution to a mutual fund that returns 8.00% per year on average. Currently, college tuition costs $44,900.00 for four years, but it is growing at 3.00% per year. The "baby" girl will start college in 17.00 years. What will be the cost of tuition when their "baby" girl starts college?

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4 The tution cost at year 17 Present tution cost for four year Growth 44900 3% 74212.86 r year at age 17 94 The tution cost at year 17 Present tution cost for four year Growth tution cost for four year at age 17 44900 0.03 -C6*(1+C7)A17 7

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