Great Aunt Myrtle has given you a gift of $8,167.76 for your 21st birthday. She explains...

Great Aunt Myrtle has given you a gift of $8,167.76 for your 21^st birthday. She explains she’s put away the same amount each year beginning on your first birthday and ending today, on your 21^st. If she saved $250 each year, what return did she earn on the account?

4.2%
		3.9%
		3.6%
		4.9%

You received a trust fund gift of $8,167.76 from you Great Aunt Myrtle for your 21^st birthday. Your first child was also born today and you decide to deposit the gift into a college fund, and vow to deposit $250 into the fund every month beginning one month from today and ending on the child’s 18^th birthday. How much will you have if the annual return on your account is 8.5%?


$89,306
		$164,341
		$153,437
		$45,299

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jeff jeffy answered 1 year ago

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