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Joe feels he can set aside $350 at the end of each month for the next 13 years, which he hopes will be sufficient to
Joe feels he can set aside $350 at the end of each month for the next 13 years, which he hopes will be sufficient to fund his son's post-secondary education. If Joe assumes an annual nominal return of 8%, compounded monthly, how much will he have accumulated toward to his objective at the end of 13 years? (Disregard any taxes or grants.)
Question 4 options:
| $90,280 |
| $95,522 |
| $96,159 |
| $97,503 |
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