Bilbo wants to have a college fund of $120000 for Frodo after 15 years. How...

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Bilbo wants to have a college fund of $120000 for Frodo after 15 years. How much does he need to invest today if his investment offers 4% return? Select one: O a. 31770 b. 66632 c. 8000 d. 11461 O . 77773

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