SOLUTION: Mark and Kate are establishing a fund for their son's college education. What lump sum must they deposit in an account that gives 6% annual interest rate, compounded monthly, in or
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Question 374744: Mark and Kate are establishing a fund for their son's college education. What lump sum must they deposit in an account that gives 6% annual interest rate, compounded monthly, in order for them to have $65,000 in the fund at the end of 10 years? Answer by rfer(16322) (Show Source):
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