An Individual Is Planning to Set-Up an Education Fund for Her

question 55

Multiple Choice

An individual is planning to set-up an education fund for her children.She plans to invest $10,000 annually at the end of each year.She expects to withdraw money from the fund at the end of 10 years
And expects to earn an annual return of 8%.What will be the total value of the fund at the end of 10
Years?

• A)$ 46,320
• B)$ 67,107
• C)$100,000
• D)$144,870
• E)$215,890

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