Calculate How Much You Would Need to Invest Now in Order

question 24

Multiple Choice

Calculate how much you would need to invest now in order to fund a year of college twenty years from now, assuming a year of college costs $26,000 now and is inflating at 6%, and your investment will earn 10%. Assume continuous compounding.

• A) $11,683
• B) $3519
• C) $7831
• D) $57,864

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Definitions:

Ear Infection

An inflammation of the inner, middle, or outer ear, often with infection caused by bacteria or viruses.

Excessive Crankiness

An heightened state of irritability or fussiness, often without a readily identified cause.

Audiometer

A device used to evaluate an individual's hearing ability by generating sounds at various frequencies and volumes.