You have just visited your financial planner and decided you want to have $200,000 in your...

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You have just visited your financial planner and decided you want to have $200,000 in your...

You have just visited your financial planner and decided you want to have $200,000 in your newborn daughter's college account by the time she is 18 years old. You feel you can start saving $400 a month right away for this. What rate of return will you need to reach your goal?

choices:

A. 6.91%
B. 8.37%
C. 9.78%
D. 10.91%
E. 11.97%

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Answer 1

Answer #1

Answer - Option B

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Answer 2

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You have just visited your financial planner and decided you want to have $200,000 in your...