I am planning to invest $1,000 at the end of each month to my daughter's college (starting

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I am planning to invest $1,000 at the end of each month to my daughter's college (starting at the end of this month) fund that earns a 12% annual rate of return compounded monthly. Assuming that she starts college in exactly 5 years and she will spend 4 years in college, how much tuition can she afford to pay at the beginning of each of her 4 years in college? (Round to nearest dollar) Select one: a. $24,008 b. $24,205 c. $26,888 d. $27,275 e. None of the above. Clear my choice

Posted Date: Jul 11, 2024 04:29 PM

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I am planning to invest $1,000 at the end of each month to my daughter's college (starting

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