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QUESTION
Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they deposit at a 7.9 % annual interest rate, compounded quarterly, in order to have $200
Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they deposit at a 7.9 % annual interest rate, compounded quarterly, in order to have $20000 in the fund at the end of 10 years?
