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Mr. Blochirt is creating a college investment fund for his daughter. He will put in $850 per year for the next 15 years and expects to earn a 8% annual rate of return. How much money will his daughter have when she starts college?

A) $11,250 B) $12,263 C) $24,003 D) $23,079

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The solution calculates the result of a college investment fund.

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