Laura Diane Is Creating a University Investment Fund for Her

question 50

Multiple Choice

Laura Diane is creating a university investment fund for her son Leland.She will put in $71.00 per month at the end of each month for the next 15 years and expects to earn an 8% annual rate of return,compounded monthly.How much money will Leland have when he starts university?

• A) $28,052.38
• B) $12,780.00
• C) $13,393.98
• D) $24,568.71

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