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19. An individual is planning to set-up an education fund for her daughter. She plans to invest $7,000 annually at the end of each year.
19. An individual is planning to set-up an education fund for her daughter. She plans to invest $7,000 annually at the end of each year. She expects to withdraw money from the fund at the end of 9 years and expects to earn an annual return of 8%. What will be the total value of the fund at the end of 9 years? a) $87,413 b) $68,040 c) $50,400 d) $126,000 e) $45,360
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