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An individual is planning to set-up an education fund for his grandchildren. He plans to...

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Accounting

An individual is planning to set-up an education fund for his grandchildren. He plans to invest $17,000 annually at the end of each year. He expects to withdraw money from the fund at the end of 8 years and expects to earn an annual return of 6%. What will be the total value of the fund at the end of 8 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

Multiple Choice

  • $84,780.

  • $136,000.

  • $239,278.

  • $105,567.

  • $168,258.

Answer & Explanation Solved by verified expert
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