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

A financial planning service offers a college savings program. The plan calls for you to make six annual payments of $14,800 each, with the first payment occurring today on your child’s 12th birthday. Beginning on your child’s 18th birthday, the plan will provide $35,000 per year for four years.

  

What return is this investment offering?

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Expert Solution

Please refer to below spreadsheet for calculation and answer. Cell reference also provided.

Cell reference -

Hope this will help, please do comment if you need any further explanation. Your feedback would be appreciated.

jeff jeffy answered 5 months ago
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