$38$

Multiple Choice

$1$ point

Larson and Elena, your clients, are ages $48$ and $50,$ respectively. They want to invest $$7,000$ each year toward the college expenses of their eight$-$year$-$old daughter, Eleanor, who will begin attending college in $10$ years. Larson ar had hoped that Eleanor would get a gymnastics scholarship because she is a talented gymnast.

Unfortunately, due to Eleanor's recent knee injury, her parents have decided to plan for the likely event that she receive an athletic scholarship. Larson and Elena do not feel Eleanor would qualify for financial aid.

Which of these investments would best meet their needs?

Coverdell Education Savings Account $($ESA$)$ for Eleanor

Roth IRA for Larson

Custodial account for Eleanor

Roth IRA for Elena