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Suppose that you wish to save for your childs college education by opening up an educational IRA. You plan to deposit $100 per month into
Suppose that you wish to save for your childs college education by opening up an educational IRA. You plan to deposit $100 per month into the IRA for the next 18 years. Assume that you will be able to earn 10%, compounded monthly, on your investment. How much will you have accumulated at the end of 18 years?
I think Im not using the correct % when plugging it into my calculator.
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