7. Min-Jun and Min-Suh want to contribute $120,000 to a 529 plan for the benefit of their new grandchild. If done shortly after the birth of the child, with a 11.00 percent annual return and no other contributions, what will the account be worth when the child is 18 and ready to enter college? Click on the table icon to view the FVIF table 1. When the child is 18 and ready to enter college, the account will be worth $ (Round to the nearest cent.) 1: Data Table Compound Sum of $1 (FVIF) n = 18 3% 1.7024 4% 2.0258 5% 2.4066 6% 2.8543 7% 3.3799 8% 3.9960 9% 4.7171 10% 5.5599 11% 6.5436 7.6900 12% 13% 9.0243 14% 10.5752 15% 12.3755