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Ruby is expecting her first child next month and would like to have $80,000 saved for university education when the child turns 17. If Ruby

Ruby is expecting her first child next month and would like to have $80,000 saved for university education when the child turns 17. If Ruby can get a 7 percent annual return on the education savings for her child, approximately how much does she need to start saving at the end of each month once the baby is born?

a.

$210

b.

$2594

c.

$205

d.

$216

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