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Mr. Blochirt is creating a college investment fund for his daughter. He will put in $25,000 per year for the next 14 years and expects

Mr. Blochirt is creating a college investment fund for his daughter. He will put in $25,000 per year for the next 14 years and expects to earn a 9% annual rate of return. How much money will his daughter have when she starts college? Use Appendix C to calculate the answer.

Multiple Choice

  • $638,449

  • 651,202

  • $639,462

  • $650,475

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