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The Armstrongs Wish to Establish a Custodial Account to Finance

Question 284

Multiple Choice

The Armstrongs wish to establish a custodial account to finance their children's education. If they deposit $100 monthly for 10 years in a savings account paying 6% /year compounded continuously, how much will their savings account be worth at the end of this period? Round your answer to the nearest dollar. ​


A) $12,100
B) $17,654
C) $18,567
D) $16,442

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