Question
Suppose that you wish to save for your child's college education by opening up an educational IRA. You plan to deposit $150 per month into
Suppose that you wish to save for your child's college education by opening up an educational IRA. You plan to deposit $150 per month into the IRA for the next 18 years. Assume that you will be able to earn 8%, compounded monthly, on your investment. How much will you have accumulated at the end of 18 years?
| $35,783 |
| $60,056 |
| $72,013 |
| $32,400 |
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Financial Management For Decision Makers
Authors: Peter Atrill
7th Edition
129201606X, 978-1292016061
