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Ron wants to invest a set amount of money for his daughter's college education. He decides that, because she has just turned 1, he will

Ron wants to invest a set amount of money for his daughter's college education. He decides that, because she has just turned 1, he will set aside $10,000 at 8% interest. What will be the future value of his investment when she finishes high school at age 18?

$11,195
$50,544
$37,000
$10,800

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