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Xavier is planning to set - up an education fund for his grandchildren. He plans to invest $ 1 1 , 0 0 0 annually

Xavier is planning to set-up an education fund for his grandchildren. He plans to invest $11,000 annually at the end of each year. He expects to withdraw money from the fund at the end of 8 years and expects to earn an annual return of 6%. What will be the total value of the fund at the end of 8 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1)
Multiple Choice
$68,308
$47,521
$88,000
$179,893
$108,873
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