What is the expected value of the college fund

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Your younger sister is just starting high school, and 4 years from today she should be entering college. Your father plans to start a college fund for her, beginning today. He will invest $6,000 per year in a mutual fund, beginning today, and he expects to earn an annual return of 9%. What is the expected value of the college fund when your sister enters college? a. $29,160.55 b. $31,422.37 c. $30,655.97 d. $28,431.54 e. $29,908.26

Reference no: EM131300436

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