In Six Years, Your Daughter Will Be Going to College

Multiple Choice

In six years, your daughter will be going to college. You wish to have a fund that will provide her $10,000 per year (end of year) for each of her four years in college. How much must you put into that fund today if the fund will earn 10 percent in each of the 10 years?

A) $29,744.65
B) $29,783.76
C) $17,878.80
D) $21,651.10