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.
$54,719
B.
$33,548
C.
$85,920
D.
$21,600
E.
$60,056
A.
$54,719
B.
$33,548
C.
$85,920
D.
$21,600
E.
$60,056
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