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 with $10,000 at the end of each of her four years in college. How much must you deposit today if the money 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