Suppose
that you wish to save for your child’s college education by opening up
an educational IRA. You plan to deposit $100 per month into the IRA for
the next 18 years. Assume that you will be able to earn 10%, compounded
monthly, on your investment. How much will you have accumulated at the
end of 18 years?
A. $21,600
B. $54,719
C. $60,056
D. $85,920
E. $33,548
A. $21,600
B. $54,719
C. $60,056
D. $85,920
E. $33,548
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