Use the information for the$$ question$($s$)$ below.

Suppose that a young couple has just had their first$$ baby, a$$ daughter, and they wish to ensure that enough money will be available to pay for her college education.$$ Currently, college$$ tuition, books,$$ fees, and other$$ costs, average$$ $$12,500$ per year. On$$ average, tuition and other costs have historically increased at a rate of$4\%$ per year.

Assuming that costs continue to increase an average of$4\%$ per$$ year, tuition and other costs for one year for this student in $18$ years when she enters college will be closest$$ to:

Question content area bottom

Part $1$

A$.$

$$$$12,500.$

B$.$

$$$$21,500.$

C$.$

$$$$25,323.$

D$.$

$$$$320,568.$