What Is the Future Value of a $10,000 College Tuition

question 105

Multiple Choice

What is the future value of a $10,000 college tuition fund if the nominal rate of interest is 12 percent compounded monthly for five years?

• A) $17,623.42
• B) $18,170
• C) $16,105.10
• D) $16,122.26

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Definitions:

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