It is your 6 ^th birthday today. You have a trust fund with $50,000 that is earning 8% per year. You expect to withdraw $30,000 per year for 7 years starting on your 22 ^nd birthday for graduate school. How much money will be left in the trust fund after your last withdrawal (rounded to the nearest $10)?

Select one:

a. $4,140

b. You will not have enough money to pay for graduate school.

c. $125,660

d. $35,780

Answer rating: 100% (QA)

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