Assuming That College Costs Continue to Increase an Average of 4

Multiple Choice

Assuming that college costs continue to increase an average of 4% per year and that all her college savings are invested in an account paying 7% interest,then the amount of money she will need to have available at age 18 to pay for all four years of her undergraduate education is closest to:

A) $97,110
B) $107,532
C) $101,291
D) $50,000
E) $85,790