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Nbspthe brewsters are saving for their daughters college

The Brewsters are saving for their daughter's college days. They would like to be able to withdraw $800 each month from their account for five years once their daughter starts college. Assuming that their account will earn interest at the rate of 9% compounded monthly, what sum of money should the Brewsters have in the account when their daughter starts college?

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Finance Basics: Nbspthe brewsters are saving for their daughters college

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