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Suppose you want to save money for your child's college expenses. You deposit $1,000 at the beginning of each year for 18 years, at an interest rate of 5%. How much is available for your child when he or she starts school? s27,205.00 B $29,539.00 $28,631.00 $25,419.00

Suppose you want to save money for your child's college expenses. You deposit $1,000 at the beginning of each year for 18 years, at an interest rate of 5%. How much is available for your child when he or she starts school? s27,205.00 B $29,539.00 $28,631.00 $25,419.00

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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3 Suppose you want to save money for your child's college expenses. You deposit $1,000 at the beginning of each year for 18 years, at an interest rate of 5%. How much is available for your child when he or she starts school? A s27,205.00 B) s29,539.00 c) s28,631.00 D $25,419.00
Transcribed Image Text:3 Suppose you want to save money for your child's college expenses. You deposit $1,000 at the beginning of each year for 18 years, at an interest rate of 5%. How much is available for your child when he or she starts school? A s27,205.00 B) s29,539.00 c) s28,631.00 D $25,419.00
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