What annual rate of return would have to have been earned

Reference no: EM13221758

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?

Reference no: EM13221758

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