Rebecca Is Currently Working, but Is Planning to Start a College

Multiple Choice

Rebecca is currently working, but is planning to start a college in few years. For this purpose, she would need $20,000. Today she can start investing $750 monthly in an investment account that pays 6 percent compounded monthly. How long would it take her to have enough money to start college?

A) 21.25 months
B) 27.78 months
C) 25.10 months
D) 22.56 months
E) 30.25 months