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Financing a college education the parents of a child have

Question: FINANCING A COLLEGE EDUCATION The parents of a child have just come into a large inheritance and wish to establish a trust fund for her college education. If they estimate that they will need $100,000 in 13 yr, how much should they set aside in the trust now if they can invest the money at 8½%/year compounded

(a) annually,

(b) semiannually, and

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