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 7.00 percent annual return and no other contributions, what will the account be worth when the child is 18 and ready to enter college?

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

12%

7.6900

13%

9.0243

14%

10.5752

15%

12.3755