Multiple Choice
You are saving for your child's university education.It is her 1st birthday today.She will start university just after her 19th birthday.You are going to save $2,000 per year each year starting today and ending on her 18th birthday.If you expect to earn a rate of 5% in the savings account,then how much will you have saved by her 19th birthday?
A) $56,264.77
B) $59,078.01
C) $61,078.01
D) $64,131,91
E) $54,264.77
Correct Answer:
Verified
Correct Answer:
Verified
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