1. On August 31, 2018, Julie Lynn went to her accountants,...

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1. On August 31, 2018, Julie Lynn went to her accountants, J&J LLP, to get assistance in planne for her child's college education Ms Lyon was presented with the following alternatives to setting aside cash for a college fund, which must be available for withdrawal on August 2028: On September 1, 2018, Ms. Lynn could deposit a single amount of $215,000 in an investment that would be expected to provide a 6% annual return. o On September 1, 2020, Ms. Lynn could deposit a single amount of $240,000 in an investment that would be expected to provide a 7% annual return (Before making this deposit, Ms. Lynn would earn no interest on the $240,000.) Beginning September 1, 2018, Ms. Lynn could deposit $25,000 each year in an investment that would be expected to provide an 8% annual return. However, at August 31, 2028, Ms. Lynn would also have to pay the investment advisor a separate fee of $20,000. Thus, she would also have to calculate separately the amount she would have to deposit in her 6% savings account on September 1, 2018 to be certain that the amount of the fee would be available on August 31, 2028. Having decided she will need approximately $400,000 on August 31, 2028, Ms. Lynn will need to make an annual deposit of $ , beginning on August 31, 2019, if she is able to earn an expected 9% return. Prepare a schedule that J&J LLP would prepare for Ms. Lynn at September 1, 2018, setting forth the amounts that would be available for the college fund under each of the above alternatives

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