Two rich concerned parents just had a baby. They are worried about their kid's ability...
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Accounting
Two rich concerned parents just had a baby. They are worried about their kid's ability to make money in this tough environment. Therefore, they want to fund an account today that will disburse money annually forever starting from when the kid turns 18 years old. If the parents want the fund to pay out $20,000 per year, how much money would they have to contribute now given that the interest rate is 10%
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