Question

If you invest in a mutual fund with the goal of paying for your children's college in 15 years, which type of fund are you investing in?

Option 1: Growth Fund
Option 2: Money Market Fund
Option 3: College Savings Fund
Option 4: Income Fund

Answer 1

If you invest in a mutual fund with the goal of paying for your children's college in 15 years, you would be investing in a College Savings Fund. These funds are specifically designed to help individuals save for education expenses.

Step-by-step explanation:

If you invest in a mutual fund with the goal of paying for your children's college in 15 years, you would be investing in a College Savings Fund. College savings funds are specifically designed to help individuals save for education expenses, such as college tuition. These funds often offer tax advantages and are typically invested in a diversified portfolio of stocks and bonds to generate growth over time.