Multiple Choice
Suppose that you wish to save for your child's college education by opening up an educational IRA. You plan to deposit $100 per month into the IRA for the next 18 years. Assume that you will be able to earn 10%, compounded monthly, on your investment. How much will you have accumulated at the end of 18 years?
A) $21,600
B) $54,719
C) $33,548
D) $85,920
E) $60,056
Correct Answer:
Verified
Correct Answer:
Verified
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