When Your First Child Is Born, You Begin to Save

question 49

Multiple Choice

When your first child is born, you begin to save for college by depositing $600 per month in an account paying 6% interest per year. With a continuous stream of investment and continuous compounding, how much will you have accumulated in the account by the time your child enters college 18 years later Round your answer to the nearest cent.

• A)$233,361.55
• B) $353,361.55
• C) $1,166.81
• D) $473,361.55
• E) $79,248.54

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Definitions:

Abusive Relationships

Relationships characterized by patterns of harmful behavior by one partner towards another, which can be physical, emotional, sexual, or psychological.

Abusive Husbands

Husbands who engage in patterns of behavior aimed at controlling or dominating their spouses through physical, emotional, psychological, or sexual abuse.

Admit Guilt

The process by which an individual accepts responsibility for their actions, often in a legal context, acknowledging involvement in a crime.

Undergo Counseling

The process of receiving professional guidance and therapy to address emotional, psychological, or behavioral issues.