A Woman Who Died Left an Estate Worth $200 000

A woman who died left an estate worth $200 000 to be split among her two children,currently age 8 and 12.Each child is to receive an equal amount,X,from the estate when they reach age 18.If the money can be invested at j₂ = 6%,how much does each child receive when they turn 18? (Answer to nearest dollar)

A) $142,576
B) $159,355
C) $179,356
D) $180,611

Correct Answer:

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