Multiple Choice
Lucy and Fred want to begin saving for their baby's college education.They estimate that they will need $250,000 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) $8,089.
B) $7,631.
C) $13,889.
D) $7,405.
Correct Answer:
Verified
Correct Answer:
Verified
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