Ruby Is Expecting Her First Child Next Month and Would

question 37

Multiple Choice

Ruby is expecting her first child next month and would like to have $80 000 saved for university education when the child turns 17.If Ruby can get a 6.6 percent annual return on the education savings for her child,how much does she need to start saving each month once the baby is born?

• A)$2688
• B)$392
• C)$224
• D)$218

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Definitions:

Public Road

A path or a roadway that is available for use by the general public and maintained by a public authority.

Tenancy At Sufferance

A leasehold estate, or tenancy, that arises when a tenant wrongfully remains in possession of the premise after his or her tenancy has expired.

Lease

A contract granting the use of certain real property to another for a specified period in return for the payment of rent.

Adjoining Tracts

Portions of land that are next to each other or sharing a common boundary.