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A couple plans to save for their child's college education. What principal must be deposited by the parents when their child is born in order to have $42,000 when the child reaches the age of 18? Assume the money earns 9% interest, compounded quarterly. (Round your answer to two decimal places.)

Sagot :

nathanboylen

Answer:

The parents must deposit $9612.75 when their child is born.

Step-by-step explanation:

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