Your Grandmother Has Promised to Send You $50 a Month

question 299

Multiple Choice

Your grandmother has promised to send you $50 a month for four years while you are in college. At a 5% discount rate, what are these payments worth to you when you first start college?

• A) $2,089.07
• B) $2,127.57
• C) $2,171.15
• D) $2,180.19
• E) $2,191.11

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