1. Kim wants to have enough money in 16 years in order to pay for her son's college costs. She decides to invest a lump-sum of $7,500 today and $ 2,300 at the beginning of each year. If she earns 7.3%, compounded annually, how much will she have in 18 years? (Round to the nearest dollar) $107,291 93,725 118.175 108,750