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An individual is planning to set-up an education fund for her daughter. She plans to invest $6,700 annually at the end of each year. She
An individual is planning to set-up an education fund for her daughter. She plans to invest $6,700 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? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice $83,666.92 $65,124.00 $48,240.00 $120,600.00 $43,674.62
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