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After meeting with their new financial planner, the Beckham family has decided to invest $800 each month into a 529 for their seven-year-old son, Oliver.

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After meeting with their new financial planner, the Beckham family has decided to invest $800 each month into a 529 for their seven-year-old son, Oliver. The Beckhams expect Oliver to attend Southern State University. The current tuition is $25,000 per year, education inflation is expected to be 6.5%, and the anticipated rate of return on their 529 is 8%. Oliver will attend school beginning at 18 years old for four years. Using these facts, calculate to determine whether the current investment plan ($800 monthly deposits), will meet the education savings goal. A) Fall short of the goal by $27,324 B) Fall short of the goal by $42,152 C) Exceed the goal by $111,554 D) Exceed the goal by $107,286

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