You Set Up a College Fund in Which You Pay

question 1

Multiple Choice

You set up a college fund in which you pay $2,000 each year at the BEGINNING of the year.How much money will you have accumulated in the fund after 18 years,if your fund earns 7% compounded annually?

• A) $72,757.93
• B) $67,998.07
• C) $20,118.17
• D) $28,339.25

---

Definitions:

Chat Room

A digital space on the internet where users can communicate with each other in real-time.

Communication

The process of exchanging information, ideas, or feelings between individuals or groups through verbal, non-verbal, written, or visual means.

Individualism-Collectivism

A dimension of culture that reflects the degree to which people in a society are integrated into groups, with individualism emphasizing personal goals and collectivism stressing the importance of group goals.

Triandis

Harry C. Triandis is a social psychologist known for his work on cultural psychology and the study of individualism and collectivism in shaping behavior and social relations.