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14) You have $15,000 and are interested in investing it for your child's 14) college education. Your child is 7 years old and will be
14) You have $15,000 and are interested in investing it for your child's 14) college education. Your child is 7 years old and will be entering college when he is 18 years old (you have 11 years to invest your money). There are various education savings plans that are g available. Calculate how much money your $15,000 will become for each of the offeres listed. a. Savings Plan 1: 6.3% compounded biannully b. Savings Plan 2: 5.9% compounded monthly c. Savings Plan 3: 6.1% compounded continuously
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