Use the information for the question(s) below.
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 university education. Currently, 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.
-Assuming that college costs continue to increase at an average of 4% per year and that all her university savings are invested in an account paying 7% interest, then what is the amount of money she will need to have available at age 18 to pay for all four years of her undergraduate education?

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The Answer of Use the information for the question(s) below.
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 university education. Currently, 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.
-Assuming that college costs continue to increase at an average of 4% per year and that all her university savings are invested in an account paying 7% interest, then what is the amount of money she will need to have available at age 18 to pay for all four years of her undergraduate education?

Use the Information for the Question(s) Below