You Have Saved $120,000 for Your Child to Attend College

question 109

Multiple Choice

You have saved $120,000 for your child to attend college.If it is in an account earning an annual rate of 8%,how much can you take out in equal payments at the end of each of the next four years to pay for their education?

• A)$30,000.00
• B)$38,745.67
• C)$36,230.50
• D)$41,245.78

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Definitions:

Marginalized Group

Communities or individuals who experience discrimination or exclusion from mainstream social, economic, educational, or cultural life.

Cultural Roots

The values, traditions, social and political relationships, and cultural practices that are foundational to the identity and heritage of a community or individual.

Existentialists

Philosophers who focus on individual freedom, choice, and existence, often pondering the meaning of life.

Psychopathology

The study of mental disorders, including their symptoms, etiology (causes), and treatment.