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How much you need in account today to meet expense needs

Question:

Beginning three months from now, you want to be able to withdraw $1,700 each quarter from your bank account to cover college expenses over the next 4 years. The account pays 1.25 percent interest per quarter. How much do you need to have in your account today to meet your expense needs over the next 4 years?

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Finance Basics: How much you need in account today to meet expense needs

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