Question
Rob and Heidi have six children ranging in age from 4 to 15 years old. To save on haircuts, Heidi purchases a set of Wahl
Rob and Heidi have six children ranging in age from 4 to 15 years old. To save on haircuts, Heidi purchases a set of Wahl cutters and learns the basics of haircutting on YouTube. She figures that by cutting her family's hair, they can save about $77 per month on haircuts (7 haircuts x $11 per haircut). If Rob and Heidi invest the $77 savings that theywouldhavespent on haircuts at the beginning of each month in a tax-advantaged, diversified, primarily stock-based mutual fund that averages 8% annually, what will they have in that mutual fund in 5 years?
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