Your daughter is currently eight years old

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June 7th, 2024

Your daughter is currently eight years old. You anticipate that she will be going to college in 10years. You would like to have $100,000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 3% per year, how much money do you need to put into the account today to ensure that you will have $100,000 in 10 years?

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