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09-06-2024
Mathematics

Answered

Will and Jane Sparks are establishing a college fund for their 1-year-old daughter, Jennifer. They want to save enough now to pay college tuition at the time she enters college (17 years from now). If her tuition is projected to be $ 25000 for a two-year degree, what annual sinking fund payment should they establish if the annual interest is 4 %

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