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

question 87

Multiple Choice

Suppose that you wish to save for your child's university education by opening up an educational Savings account.You plan to deposit $100 per month into the account 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

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Definitions:

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A therapeutic approach focusing on the psychological forces that underlie human behavior, feelings, and emotions, and how they may relate to early experience.