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A couple plans to save for their child's college education. What principal must be deposited by...

A couple plans to save for their child's college education. What principal must be deposited by the parents when their child is born in order to have $37,000 when the child reaches the age of 18? Assume the money earns 8% interest, compounded quarterly. (Round your answer to two decimal places.)

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For the cob ound Intanest 九 luTb 4x18 :72 2 11-02) 34 000 2 3844.23 s rpal o $884423

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