13 Suppose That You Wish To Save For Your Child S College Education By Opening U

13) 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. $33,548 C. $85,920 D. $60,056 E. $54,719

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