Tuition costs are expected to inflate at the rate of 8 per, Financial Management

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Tuition costs are expected to inflate at the rate of 8 per

Tuition costs are expected to inflate at the rate of 8% per year. The first year's tuition is due one year from now and will be 10,000. To cover tuition costs for 4 years , a fund is to be set up today in an account that will earn interest at the rate of 6% per year, compounded annually. How much must be deposited into the fund today in order to pay the 4 years of tuition expenses?

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Financial Management: Tuition costs are expected to inflate at the rate of 8 per

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Financial Management: Tuition costs are expected to inflate at the rate of 8 per

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