Multiple Choice
Lucy and Fred want to begin saving for their baby's college education. They estimate that they will need €300,000 in eighteen years. If they are able to earn 5% per annum, how much must be deposited at the end of each of the next eighteen years to fund the education?
A) €11,618
B) €25,664
C) €24,823
D) €10,664
Correct Answer:
Verified
Correct Answer:
Verified
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