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A financial planning service offers a college savings program. The plan calls for you to make six

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The Question

A financial planning service offers a college savings program. The plan calls for you to make six annual payments of $12,500 each, with the first payment occurring today, your child?s 12th birthday. Beginning on your child?s 18th birthday, the plan will provide $27,000 per year for four years.

  

What return is this investment offering? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

  

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%

 

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Oct 14, 2020

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