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Suppose that a young couple has just had their first baby and they wish to ensure that enough money will be available to pay for their child's college education.Currently,college tuition,books,fees,and other costs,average $12,500 per year.On average,tuition and other costs have historically increased at a rate of 4% per year.
-Assume that college costs continue to increase an average of 4% per year and that all her college savings are invested in an account paying 7% interest.Draw a timeline that details the amount of money she will need to have in the future four each of her four years of her undergraduate education.
Preschool Years
The preschool years refer to the period in a child's life before they enter compulsory education, usually ranging from ages 3 to 5, characterized by significant development in language, social, and motor skills.
Dramatically
In a manner that is striking, impressive, or with great emphasis; often used to describe a significant change or effect.
Intimacy
Refers to the feeling of being emotionally close and connected with another individual or group, often involving open and honest communication.
Friendships
Close, interpersonal relationships marked by mutual affection, trust, and support.
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