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Mathematics, 20.06.2021 15:30 caggh345
Today is your 10th birthday, and you decide to start saving for your college education. You will begin college on your 20th birthday and will need to pay ksh144,000 at beginning of first in a 4- year program. Fees will increase at inflation rate of 10% per year. You will make a deposit 1 year from today in an account paying 12% (percent) annually and continue to make an identical deposit each year up to and including the year you begin college. What should be the size of your deposit?
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