At your birth,your grandparents put $5,000 into a college fund for you.Now you want to use the fund to pay your first year of college costs of $23,000.To have enough money in your college fund for your stated purpose,what annual rate of return would have to have been earned on the account over an 18-year period?

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The Answer of At your birth,your grandparents put $5,000 into a college fund for you.Now you want to use the fund to pay your first year of college costs of $23,000.To have enough money in your college fund for your stated purpose,what annual rate of return would have to have been earned on the account over an 18-year period?

At Your Birth,your Grandparents Put $5,000 into a College Fund