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An individual is planning to set-up an education fund for her children. She plans to invest $10,000 annually at the end of each year. She
An individual is planning to set-up an education fund for her children. She plans to invest $10,000 annually at the end of each year. She expects to withdraw money from the fund at the end of 10 years and expects to earn an annual return of 8%. What will be the total value of the fund at the end of 10 years? (Round to the nearest dollar.)
8%, 10 years annually | Factor |
Present value of $1 | 0.463 |
Future value of $1 | 2.159 |
Present value of an annuity | 6.710 |
Future value of an annuity | 14.487 |
Group of answer choices
$ 46,320.
$100,000.
$144,870.
$ 67,107.
$215,890.
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