You just had your first child and would like to start saving for her college expenses. You decide to her life, starting one month after she is born, and continuing each year until her 18th birthday (you will make the last deposit on her 18th birthday). If you expect to earn 5% on your savings, how much will be in the account immediately after making the last deposit? LO2 O$35,934.57 O$29.683.21 $34.920.20 O$18,000.00

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
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Ef 12.

You just had your first child and would like to start saving for her college expenses. You decide to deposit $100 at end of each month of
her life, starting one month after she is born, and continuing each year until her 18th birthday (you will make the last deposit on her 18th
birthday). If you expect to earn 5% on your savings, how much will be in the account immediately after making the last deposit? LO2
O$35,934.57
O $29.683.21
$34.920.20
$18,000.00
Transcribed Image Text:You just had your first child and would like to start saving for her college expenses. You decide to deposit $100 at end of each month of her life, starting one month after she is born, and continuing each year until her 18th birthday (you will make the last deposit on her 18th birthday). If you expect to earn 5% on your savings, how much will be in the account immediately after making the last deposit? LO2 O$35,934.57 O $29.683.21 $34.920.20 $18,000.00
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