Careers, Salaries, and Lifetime Income — Unit test
Question 6 • 2026-2027 Personal Finance w/ Mrs. Roudybush
The Hartman family is saving $400 monthly for Ronald’s college education. The family anticipates they will need to contribute $20,000 toward his first year of college, which is in 4 years. Which best explains whether the family will have enough money in 4 years?
Answer
A
The family will not have enough money. They will have saved only $16,000.
B
The family will not have enough money. They will have saved only $19,200.
C
The family will likely have enough money. They will have saved $16,000 and have accumulated interest.
D
The family will likely have enough money. They will have saved $19,200 and have accumulated interest.