Use the Information for the Question(s)below

question 25

Multiple Choice

Use the information for the question(s) below.
Suppose that a young couple has just had their first baby,a daughter,and they wish to ensure that enough money will be available to pay for her college education.Currently,college tuition,books,fees,and other costs,average $12,500 per year.On average,tuition and other costs have historically increased at a rate of 4% per year.
-Assuming that college costs continue to increase an average of 4% per year and that all her college savings are invested in an account paying 7% interest,then the amount of money she will need to have available at age 18 to pay for all four years of her undergraduate education is closest to:

• A)$97,110.
• B)$107,532.
• C)$101,291.
• D)$50,000.

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Definitions:

Chorea

A neurological disorder marked by involuntary, rapid, irregular movements, affecting the face, feet, and hands, often associated with Huntington's disease.

Jerky Movements

Sudden, quick movements that are not smooth or controlled, often unintentional and possibly indicative of a neurological disorder.

Athetosis

A type of motor disorder characterized by slow, involuntary, convoluted, writhing movements of the fingers, arms, legs, or neck.

Glasgow Coma Scale

A clinical scale used to assess the consciousness level of a person after a brain injury, based on responses to stimuli.