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QUESTION
On January 1, Alan King decided to deposit $60,100 in a savings account that will provide funds four years later to send his son to college. The...
On January 1, Alan King decided to deposit $60,100 in a savings account that will provide funds four years later to send his son to college. The savings account will earn 7% annually. Any interest earned will be added to the fund at year-end (rather than withdrawn).
