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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Definitions:

Treatment

Medical care given to a patient for an illness or injury.

Confounding Variable

An external influence that affects the relationship between the independent and dependent variables in an experiment, potentially skewing the results.

Self-Esteem

An individual's subjective evaluation of their own worth, characterized by attitudes towards themselves.

Association

The process of connecting ideas, feelings, or experiences in the mind, or the relationship between objects, events, or data that often implies a link or correlation.