Question
A professor started a college fund for his oldest daughter, Sam, about four years ago. He has invested $1,800.00 per year into a 529 plan.
A professor started a college fund for his oldest daughter, Sam, about four years ago. He has invested $1,800.00 per year into a 529 plan. Below are the returns on Sams college account for the past four years:
| YEAR | Return |
|---|---|
| 2013 | 10.00% |
| 2012 | 27.00% |
| 2011 | -8.00% |
| 2010 | 14.00% |
What is the average return on the account over the four years?
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Intermediate Financial Management
Authors: Brigham, Daves
10th Edition
978-1439051764, 1111783659, 9780324594690, 1439051763, 9781111783655, 324594690, 978-1111021573
