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Question #12: Your daughter just celebrated her 2nd birthday. They will be going to College...

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Accounting

Question #12: Your daughter just celebrated her 2nd birthday. They will be going to College at age 18 and you want them to attend your alma mater. You estimate that you will need to have save $360,000 by the time she enters College. You believe that you can earn 9.4% on the monies that you will invest.

Required: How much money do you need to invest today?

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