Assume that these college payments will be made at the


 Jennifer and Sam want to save for their daughter Kyra's college expense. Kyra will enter college eight years from now, and she will need $35,000, $36,000, $37,000, and $38,000 in actual dollars for four school years. Assume that these college payments will be made at the beginning of each school year. The future general inflation rate is estimated to be 4% per year, and the annual inflation-free interest rate is 5%. What is the equal amount, in actual dollars, Jennifer and Sam must save each year until Kyra goes to college? 

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Business Economics: Assume that these college payments will be made at the
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