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Solve the Problem. -The Average Cost of a 4-Year College Education Is Projected

Question 16

Multiple Choice

Solve the problem.
-The average cost of a 4-year college education is projected to be $120,000 in 16 years. How much money should be invested now at 6%, compounded quarterly, to provide $120,000 in 16 years?


A) $94,563.72
B) $17,845.46
C) $46,275.86
D) $120,000.00

Correct Answer:

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