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A child is born this year. On it's first birthday [after 1 year], the parents decide to de

A child is born this year. On it's first birthday [after 1 year], the parents decide to de

A child is born this year. On it's first birthday [after 1 year], the parents decide to deposit an equal annual contribution to the college fund that will earn 8%, compunded annually. How much should they deposit at the end of each year so that it will grow to $50,000 on the child's 18th birthday? (please give explanation & how to calculate)

Abhinav 03-Dec-2019

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