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If Susan and Joe Set Aside $10,000 for College Tuition

question 88

Multiple Choice

If Susan and Joe set aside $10,000 for college tuition when their daughter is 13, how much will be available when she starts college at 18 if the account in which the money is deposited pays 12 percent compounded monthly?


Definitions:

Infrequently

Infrequently pertains to events or actions that occur seldom or not often.

Different Kinds

Various types or categories within a particular subject or area, highlighting diversity or a range of options.

Municipal Bond

A debt security issued by a state, municipality, or county to finance its capital expenditures.

Industrial-Development Bond

Tax-exempt bonds issued by municipal or county governments to finance the development of industrial or commercial facilities, intended to create jobs and promote economic growth.

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