Ali's parents have decided to help him pay his college fees. If you know that...
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Ali's parents have decided to help him pay his college fees. If you know that he will go to college in 6 years and the college costs $4000 per year for 5 years, that are paid upfront each year. How much must they invest now to pay his college fees, if the annual interest rate is 10%? 1. O $4,366 2. O $4,000 3. O $16,679 4. O $9,415
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