Suppose That You Wish to Save for Your Child's College

question 91

Multiple Choice

Suppose that you wish to save for your child's college education by opening up an educational IRA. You plan to deposit $100 per month into the IRA for the next 18 years. Assume that you will be able to earn 10%, compounded monthly, on your investment. How much will you have accumulated at the end of 18 years?

• A) $21,600
• B) $54,719
• C) $33,548
• D) $85,920
• E) $60,056

Identify the types of contractual rights that are non-assignable.

Discern the types of contracts that require written evidence under the statute of frauds.

Differentiate between intended and incidental beneficiaries in contract law.

Explain the significance of assignments in contract law and the importance of giving notice to the obligor.

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Definitions:

Interview Skill

The ability to effectively communicate and present oneself during a job interview, including answering questions and exhibiting confidence.

Large Clinics

Medical facilities larger than standard clinics, often offering a wide range of services and capable of accommodating numerous patients.

Problem-Oriented Medical Records

A method of recording healthcare information that is organized around patients' specific problems, facilitating efficient patient care.

Computerized Medical Records

Electronic records of health-related information on an individual that can be created, gathered, managed, and consulted by authorized clinicians and staff within one health care organization.