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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 $13,000 each, with the first payment occurring today, your child's 12th birthday. Beginning on your child's 18th birthday, the plan will provide $30,000 per year for four years.
what return is this investment offering?

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Expert Solution

Accordingly, Return on Investment = 8.867065% = 8.87%

jeff jeffy answered 1 year ago
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