Multiple Choice
Lucy and Fred want to begin saving for their baby's college education. They estimate that they will need €200,000 in eighteen years. If they are able to earn 6% per annum, how much must be deposited at the beginning of each of the next eighteen years to fund the education?
A) €6,471
B) €6,105
C) €11,111
D) €5,924
Correct Answer:
Verified
Correct Answer:
Verified
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