Multiple Choice
Raymond wants to save the college tuition fees his child will need in ten years by starting with a deposit of $6500 today and depositing another $500 at the end of each year.How much will Raymond have in ten years if he gets a rate of return of four percent?
A) $15 625
B) $11 960
C) $15 865
D) $17 023
Correct Answer:
Verified
Correct Answer:
Verified
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