Andre’s wonderful parents established a college savings plan for him w
Andre’s wonderful parents established a college savings plan for him when he was born. They
deposited $50 into the account on the last day of each month. The account has earned 10.9%
compounded monthly, tax-free.
How much can they withdraw on his 18th birthday to spend on
his education?
A) $43,730 B) $30,028 C) $33,307 D) $27,560
ANSWER
C
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