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To Save for Her Newborn Son's College Education, Kelli Peterson

Question 76

Multiple Choice

To save for her newborn son's college education, Kelli Peterson will invest $1,500 at the end of each year for the next 18 years. The interest rate she expects to earn on her investment is 9%. How much money will she have saved by the time her son turns 18?


A) $55,461
B) $69,027
C) $61,952
D) $68,399

Correct Answer:

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